Blue Trust Inc. Buys 1,465 Shares of IonQ, Inc. (NYSE:IONQ)

Blue Trust Inc. boosted its holdings in IonQ, Inc. (NYSE:IONQ) by 665.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,685 shares of the company’s stock after acquiring an additional 1,465 shares during the period. Blue Trust Inc.’s holdings in IonQ were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in IonQ by 9.2% in 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 acquiring an additional 135,851 shares during the period. Yong Rong HK Asset Management Ltd bought a new stake in IonQ in the 3rd quarter valued at $3,749,000. Rockefeller Capital Management L.P. raised its stake in IonQ by 34.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after acquiring an additional 111,435 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in IonQ in the 3rd quarter valued at $1,631,000. Finally, Prospera Financial Services Inc raised its stake in IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after acquiring an additional 25,502 shares during the period. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

IONQ opened at $31.74 on Monday. The firm has a market cap of $6.87 billion, a P/E ratio of -39.18 and a beta of 2.40. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The business’s fifty day moving average is $39.89 and its 200-day moving average is $24.27.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the sale, the chief executive officer now owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IONQ. Needham & Company LLC increased their price target on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Craig Hallum upped their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group upped 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. Benchmark upped their price objective on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $33.00.

About IonQ

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.