Stephens Inc. AR purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,408 shares of the company's stock, valued at approximately $936,000.
Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of IonQ by 9.2% during the 3rd 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 during the last quarter. Yong Rong HK Asset Management Ltd bought a new position in IonQ during the 3rd quarter valued at $3,749,000. Rockefeller Capital Management L.P. boosted its stake in IonQ by 34.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock valued at $3,825,000 after acquiring an additional 111,435 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in IonQ during the 3rd quarter worth $1,631,000. Finally, Prospera Financial Services Inc increased its position in shares of IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock worth $337,000 after purchasing an additional 25,502 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.
Insider Activity
In other news, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, the chief financial officer now owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 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 $389,641.38. Following the completion of the transaction, the chief executive officer now directly owns 414,363 shares of the company's stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is currently owned by company insiders.
IonQ Trading Down 3.0 %
IONQ traded down $1.18 during trading on Monday, reaching $37.47. 8,150,097 shares of the company were exchanged, compared to its average volume of 27,816,476. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The firm has a 50 day moving average of $39.69 and a 200 day moving average of $23.31. The stock has a market cap of $8.11 billion, a P/E ratio of -46.26 and a beta of 2.40.
Analysts Set New Price Targets
A number of research firms recently commented on IONQ. DA Davidson assumed coverage on IonQ in a research note on Thursday, December 19th. They issued a "buy" rating and a $50.00 price target for the company. Craig Hallum boosted their price target on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report 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. Needham & Company LLC boosted their target price on shares of IonQ from $13.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Benchmark raised their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.00.
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About IonQ
(
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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