Independent Advisor Alliance Invests $556,000 in IonQ, Inc. (NYSE:IONQ)

Independent Advisor Alliance bought a new position in IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,313 shares of the company's stock, valued at approximately $556,000.

A number of other institutional investors also recently modified their holdings of IONQ. Pathway Financial Advisers LLC bought a new position in shares of IonQ in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC raised its stake in shares of IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after acquiring an additional 501 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of IonQ in the fourth quarter worth about $34,000. City State Bank bought a new position in shares of IonQ in the fourth quarter worth about $36,000. Finally, Hemington Wealth Management bought a new position in shares of IonQ in the fourth quarter worth about $37,000. 41.42% of the stock is owned by institutional investors.

IonQ Stock Down 9.2 %

NYSE IONQ traded down $2.14 during trading on Thursday, reaching $21.16. 29,038,501 shares of the stock traded hands, compared to its average volume of 14,498,891. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of -26.13 and a beta of 2.50. The stock's 50-day moving average price is $32.82 and its 200 day moving average price is $26.21. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

Analyst Ratings Changes

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

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Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 11,712 shares of the company's stock in a transaction that occurred on 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 owns 944,510 shares in the company, valued at $17,539,550.70. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Scannell purchased 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the acquisition, the director now directly owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by company 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.