257,801 Shares in IonQ, Inc. (NYSE:IONQ) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 257,801 shares of the company’s stock, valued at approximately $10,768,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC grew its position in IonQ by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after purchasing an additional 199,360 shares during the last quarter. State Street Corp lifted its stake in shares of IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after buying an additional 75,596 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of IonQ by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after buying an additional 31,638 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of IonQ by 28.0% in the 4th quarter. Bank of New York Mellon Corp now owns 905,545 shares of the company’s stock valued at $37,825,000 after acquiring an additional 198,129 shares during the period. Finally, Chevy Chase Trust Holdings LLC purchased a new position in IonQ in the 4th quarter worth $32,060,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Activity

In related news, CRO Rima Alameddine sold 20,047 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $372,272.79. Following the transaction, the executive now directly owns 572,568 shares of the company’s stock, valued at approximately $10,632,587.76. This trade represents a 3.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William F. Scannell acquired 93,066 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the acquisition, the director now owns 135,047 shares in the company, valued at $2,945,375.07. The trade was a 221.69 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 in the last quarter. Corporate insiders own 11.60% of the company’s stock.

IonQ Trading Down 9.2 %

Shares of IONQ opened at $21.16 on Friday. The firm has a market cap of $4.72 billion, a P/E ratio of -26.13 and a beta of 2.50. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock’s 50 day moving average is $32.64 and its two-hundred day moving average is $26.17.

Analyst Ratings Changes

IONQ has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Benchmark dropped their price objective on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, 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. One 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’s stock. Based on data from MarketBeat.com, IonQ presently has a consensus rating of “Buy” and a consensus target price of $44.80.

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.