Raymond James Financial Inc. Purchases Shares of 257,801 IonQ, Inc. (NYSE:IONQ)

Raymond James Financial Inc. bought a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 257,801 shares of the company's stock, valued at approximately $10,768,000. Raymond James Financial Inc. owned about 0.12% of IonQ as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Prospera Financial Services Inc boosted its stake in shares of IonQ by 196.1% during the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock valued at $337,000 after buying an additional 25,502 shares during the last quarter. Moors & Cabot Inc. bought a new position in IonQ during the 3rd quarter valued at $92,000. Intech Investment Management LLC acquired a new position in IonQ during the 3rd quarter worth $381,000. Charles Schwab Investment Management Inc. increased its position in shares of IonQ by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock worth $14,107,000 after purchasing an additional 135,851 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of IonQ by 15.6% in the 3rd quarter. D.A. Davidson & CO. now owns 94,568 shares of the company's stock valued at $827,000 after purchasing an additional 12,788 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity at IonQ

In related news, CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $217,491.84. Following the sale, the chief financial officer now directly owns 944,510 shares in the company, valued at $17,539,550.70. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the transaction, the executive now owns 592,615 shares of the company's stock, valued at $12,563,438. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock worth $38,059,593 in the last ninety days. 11.60% of the stock is owned by insiders.

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IonQ Stock Up 17.6 %

IONQ stock traded up $3.93 during mid-day trading on Monday, reaching $26.19. The company had a trading volume of 34,554,870 shares, compared to its average volume of 14,731,461. The stock's 50-day simple moving average is $32.43 and its two-hundred day simple moving average is $26.55. The stock has a market capitalization of $5.84 billion, a P/E ratio of -32.33 and a beta of 2.50. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IONQ shares. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. The Goldman Sachs Group raised their price objective on 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 target price 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 restated a "buy" rating and issued a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. Finally, DA Davidson raised shares of IonQ to a "strong-buy" rating in a research report on Thursday, February 20th. One equities 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $44.80.

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.