Chesapeake Capital Corp IL Makes New Investment in IonQ, Inc. (NYSE:IONQ)

Chesapeake Capital Corp IL acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,966 shares of the company's stock, valued at approximately $709,000.

A number of other large investors have also added to or reduced their stakes in IONQ. Chevy Chase Trust Holdings LLC bought a new position in IonQ in the fourth quarter worth about $32,060,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in IonQ in the fourth quarter worth about $19,242,000. Capital Advisors Inc. OK bought a new position in IonQ in the fourth quarter worth about $18,976,000. UNICOM Systems Inc. bought a new position in IonQ in the fourth quarter worth about $18,106,000. Finally, Raymond James Financial Inc. bought a new position in IonQ in the fourth quarter worth about $10,768,000. 41.42% of the stock is currently owned by institutional investors.

Insider Activity at IonQ

In related news, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares of the company's stock, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 20,047 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the sale, the executive now directly owns 572,568 shares of the company's stock, valued at $10,632,587.76. This trade represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

IONQ has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Needham & Company LLC restated a "buy" rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Benchmark dropped their price target on IonQ from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. DA Davidson upgraded IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, Craig Hallum upped their price objective on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IonQ presently has an average rating of "Buy" and an average target price of $44.80.

IonQ Stock Up 5.3 %

Shares of IONQ stock traded up $1.12 during trading hours on Friday, hitting $22.26. 21,882,198 shares of the company's stock were exchanged, compared to its average volume of 14,605,851. The firm has a 50 day moving average of $32.43 and a two-hundred day moving average of $26.27. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The firm has a market cap of $4.96 billion, a P/E ratio of -27.47 and a beta of 2.50.

IonQ Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service.