Wilmington Savings Fund Society FSB Buys New Holdings in IonQ, Inc. (NYSE:IONQ)

Wilmington Savings Fund Society FSB purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,145 shares of the company's stock, valued at approximately $549,000.

Other hedge funds also recently made changes to their positions in the company. Carnegie Investment Counsel bought a new position in IonQ in the 3rd quarter worth about $5,036,000. Yong Rong HK Asset Management Ltd bought a new position in shares of IonQ during the 3rd quarter valued at about $3,749,000. Main Management ETF Advisors LLC bought a new position in shares of IonQ during the 3rd quarter valued at about $1,865,000. Geode Capital Management LLC increased its position in shares of IonQ by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company's stock valued at $38,640,000 after purchasing an additional 199,360 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of IonQ during the 3rd quarter valued at about $1,631,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Stock Performance

Shares of NYSE IONQ traded down $1.18 during midday trading on Friday, reaching $37.47. The stock had a trading volume of 8,150,097 shares, compared to its average volume of 28,857,584. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of -46.26 and a beta of 2.40. The stock has a 50-day moving average of $39.70 and a 200-day moving average of $22.89. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

Insiders Place Their Bets

In other news, CEO Peter Hume Chapman sold 13,106 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 in the last three months. Corporate insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Craig Hallum increased their price objective on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Needham & Company LLC raised their price target on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. DA Davidson initiated coverage on IonQ in a research report on Thursday, December 19th. They set a "buy" rating and a $50.00 price target on the stock. Finally, Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, IonQ currently has an average rating of "Moderate Buy" and an average price target of $33.00.

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.