Strategic Financial Concepts LLC Takes $1.75 Million Position in IonQ, Inc. (NYSE:IONQ)

Strategic Financial Concepts LLC bought a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 41,770 shares of the company's stock, valued at approximately $1,745,000.

A number of other large investors have also recently made changes to their positions in IONQ. Creative Planning boosted its stake in shares of IonQ by 47.8% during the third quarter. Creative Planning now owns 24,364 shares of the company's stock valued at $213,000 after purchasing an additional 7,878 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of IonQ by 49.5% during the third quarter. Vontobel Holding Ltd. now owns 42,562 shares of the company's stock valued at $372,000 after purchasing an additional 14,095 shares during the period. nVerses Capital LLC purchased a new stake in shares of IonQ during the third quarter valued at $72,000. Good Life Advisors LLC purchased a new stake in shares of IonQ during the third quarter valued at $250,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of IonQ during the third quarter valued at $152,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IONQ. 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. DA Davidson raised shares of IonQ to a "strong-buy" rating in a research note on Thursday. Craig Hallum upped their price objective 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. Benchmark upped their price objective on shares of IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price objective 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 investment 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 stock. Based on data from MarketBeat, IonQ has an average rating of "Buy" and a consensus price target of $33.00.

Insider Buying and Selling at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares of the company's stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, the executive now directly owns 571,321 shares of the company's stock, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is currently owned by insiders.

IonQ Stock Down 6.0 %

NYSE:IONQ traded down $2.01 during mid-day trading on Friday, reaching $31.74. The company's stock had a trading volume of 15,720,912 shares, compared to its average volume of 27,504,479. The firm has a market capitalization of $6.87 billion, a PE ratio of -39.18 and a beta of 2.40. The stock has a fifty day moving average of $39.89 and a 200-day moving average of $24.03. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

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.