Independent Advisor Alliance Acquires Shares of 13,313 IonQ, Inc. (NYSE:IONQ)

Independent Advisor Alliance acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,313 shares of the company’s stock, valued at approximately $556,000.

Several other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in IonQ by 42.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,010 shares of the company’s stock valued at $1,671,000 after purchasing an additional 11,994 shares during the last quarter. AlphaQuest LLC bought a new position in IonQ during the fourth quarter valued at $160,000. Lindbrook Capital LLC lifted its position in IonQ by 1,162.2% during the fourth quarter. Lindbrook Capital LLC now owns 934 shares of the company’s stock valued at $39,000 after purchasing an additional 860 shares during the last quarter. Raymond James Financial Inc. bought a new stake in IonQ in the fourth quarter worth $10,768,000. Finally, Arizona State Retirement System lifted its position in IonQ by 2.2% in the fourth quarter. Arizona State Retirement System now owns 55,985 shares of the company’s stock worth $2,338,000 after buying an additional 1,187 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IONQ shares. 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 upgraded IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Benchmark lowered their price target on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Craig Hallum raised 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. 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. According to MarketBeat.com, IonQ presently has an average rating of “Buy” and an average target price of $44.80.

Insiders Place Their Bets

In other news, CRO Rima Alameddine sold 20,047 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $372,272.79. Following the transaction, the executive now directly owns 572,568 shares in the company, valued at approximately $10,632,587.76. This trade represents a 3.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Hume Chapman sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 in the last ninety days. 11.60% of the stock is owned by company insiders.

IonQ Stock Performance

Shares of IONQ stock opened at $25.16 on Monday. The firm has a market capitalization of $5.61 billion, a P/E ratio of -31.06 and a beta of 2.50. The stock has a 50 day moving average price of $34.02 and a 200 day moving average price of $26.00. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

IonQ 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.