IonQ, Inc. (NYSE:IONQ) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 212.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,865 shares of the company's stock after purchasing an additional 75,420 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.05% of IonQ worth $4,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IONQ. Chevy Chase Trust Holdings LLC purchased a new stake in shares of IonQ during the fourth quarter worth about $32,060,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in IonQ in the 4th quarter worth approximately $19,242,000. Capital Advisors Inc. OK acquired a new position in IonQ in the 4th quarter valued at $18,976,000. UNICOM Systems Inc. purchased a new position in shares of IonQ during the 4th quarter worth $18,106,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of IonQ during the fourth quarter worth $10,768,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on IONQ. The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. Needham & Company LLC reissued a "buy" rating and set a $54.00 price objective on shares of IonQ in a research note on Thursday, February 27th. Benchmark reduced their target price on IonQ from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. DA Davidson upgraded IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Finally, Craig Hallum lifted their price objective on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IonQ presently has a consensus rating of "Buy" and a consensus price target of $44.80.

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IonQ Price Performance

NYSE IONQ traded down $0.73 during trading hours on Tuesday, hitting $25.39. The company had a trading volume of 13,976,636 shares, compared to its average volume of 25,340,980. The firm's 50 day moving average is $32.40 and its 200 day moving average is $26.68. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of -31.33 and a beta of 2.50. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

Insider Activity

In other IonQ news, Director William F. Scannell purchased 93,066 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now owns 135,047 shares in the company, valued at $2,945,375.07. The trade was a 221.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now directly owns 944,510 shares of the company's stock, valued at $17,539,550.70. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by corporate insiders.

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.