IonQ, Inc. (NYSE:IONQ) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC increased its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 738.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,802 shares of the company's stock after purchasing an additional 15,678 shares during the quarter. NewEdge Advisors LLC's holdings in IonQ were worth $744,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in IonQ in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after buying an additional 501 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in IonQ during the fourth quarter worth $34,000. City State Bank acquired a new stake in IonQ during the fourth quarter valued at $36,000. Finally, Hemington Wealth Management purchased a new position in IonQ in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Trading Down 0.7 %

NYSE:IONQ traded down $0.21 during trading hours on Monday, hitting $28.69. 13,505,858 shares of the stock were exchanged, compared to its average volume of 16,099,206. The firm's fifty day moving average price is $24.73 and its 200 day moving average price is $29.54. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The company has a market cap of $6.39 billion, a P/E ratio of -35.42 and a beta of 2.50.

Analyst Ratings Changes

IONQ has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price 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. Benchmark lowered their price target on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. DA Davidson cut their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, IonQ has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Insider Transactions at IonQ

In related news, insider Peter Hume Chapman sold 2,000,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William F. Scannell bought 93,066 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares in the company, valued at approximately $2,945,375.07. This represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last ninety days. Insiders own 11.60% of the company's stock.

IonQ Company 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.