Proficio Capital Partners LLC purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 56,306 shares of the company's stock, valued at approximately $2,352,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in IonQ by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company's stock valued at $38,640,000 after buying an additional 199,360 shares in the last quarter. State Street Corp lifted its stake in IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company's stock valued at $37,240,000 after buying an additional 75,596 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after buying an additional 135,851 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in IonQ by 28.0% during the fourth quarter. Bank of New York Mellon Corp now owns 905,545 shares of the company's stock valued at $37,825,000 after buying an additional 198,129 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC purchased a new stake in IonQ during the fourth quarter valued at about $32,060,000. 41.42% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock worth $1,314,652 in the last 90 days. Company insiders own 11.60% of the company's stock.
Wall Street Analyst Weigh In
IONQ has been the subject of a number of analyst reports. DA Davidson raised shares of IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. The Goldman Sachs Group upped their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Benchmark dropped 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $44.80.
Check Out Our Latest Analysis on IONQ
IonQ Stock Up 1.0 %
Shares of IONQ traded up $0.21 during trading hours on Friday, reaching $20.69. The company's stock had a trading volume of 16,153,522 shares, compared to its average volume of 13,921,091. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of -25.55 and a beta of 2.50. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The company has a 50 day moving average of $36.29 and a two-hundred day moving average of $25.39.
IonQ Company Profile
(
Free Report)
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.
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