Xponance Inc. Acquires 1,569 Shares of IonQ, Inc. (NYSE:IONQ)

Xponance Inc. increased its holdings in IonQ, Inc. (NYSE:IONQ) by 11.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,806 shares of the company’s stock after buying an additional 1,569 shares during the period. Xponance Inc.’s holdings in IonQ were worth $618,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of IonQ during the third quarter worth $381,000. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 135,851 shares during the period. D.A. Davidson & CO. lifted its holdings in IonQ by 15.6% during the 3rd quarter. D.A. Davidson & CO. now owns 94,568 shares of the company’s stock worth $827,000 after purchasing an additional 12,788 shares in the last quarter. FMR LLC boosted its stake in IonQ by 7.2% in the 3rd quarter. FMR LLC now owns 612,625 shares of the company’s stock worth $5,354,000 after purchasing an additional 41,125 shares during the period. Finally, Rockefeller Capital Management L.P. grew its holdings 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 buying an additional 111,435 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IONQ. Benchmark cut their price objective on shares of 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 boosted their price target on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group increased their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. 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 data from MarketBeat, IonQ presently has an average rating of “Buy” and a consensus target price of $44.80.

Insider Transactions at IonQ

In other news, insider Peter Hume Chapman sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the sale, the insider now directly owns 414,363 shares in the company, valued at approximately $7,756,875.36. The trade was a 82.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William F. Scannell bought 93,066 shares of IonQ stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following 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. In the last three months, insiders sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by corporate insiders.

IonQ Stock Down 2.5 %

IONQ opened at $25.47 on Wednesday. The business’s fifty day simple moving average is $32.32 and its 200 day simple moving average is $26.81. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The stock has a market cap of $5.68 billion, a PE ratio of -31.44 and a beta of 2.50.

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.