Choreo LLC Purchases New Holdings in IonQ, Inc. (NYSE:IONQ)

Choreo LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,792 shares of the company's stock, valued at approximately $462,000.

A number of other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock worth $14,107,000 after buying an additional 135,851 shares during the period. Yong Rong HK Asset Management Ltd acquired a new stake in IonQ during the 3rd quarter worth $3,749,000. Rockefeller Capital Management L.P. raised its stake in IonQ by 34.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock worth $3,825,000 after buying an additional 111,435 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in IonQ during the 3rd quarter worth $1,631,000. Finally, Prospera Financial Services Inc raised its stake in IonQ by 196.1% during the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock worth $337,000 after buying an additional 25,502 shares during the period. 41.42% of the stock is currently owned by institutional investors.

Insider Activity at IonQ

In related news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares in the company, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company's stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by insiders.

IonQ Stock Down 3.0 %

Shares of NYSE:IONQ traded down $1.18 during midday trading on Friday, reaching $37.47. The company had a trading volume of 8,150,097 shares, compared to its average volume of 27,816,476. The business's 50 day moving average price is $39.69 and its 200 day moving average price is $23.10. The stock has a market cap of $8.11 billion, a PE ratio of -46.26 and a beta of 2.40. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.

Analyst Ratings Changes

Several analysts recently commented on the company. DA Davidson started coverage on IonQ in a research note on Thursday, December 19th. They set a "buy" rating and a $50.00 price objective on the stock. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price target on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Benchmark lifted their price target on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC lifted their price target on IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, IonQ presently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

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.