Private Advisor Group LLC Invests $395,000 in IonQ, Inc. (NYSE:IONQ)

Private Advisor Group LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,457 shares of the company’s stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IONQ. New York State Common Retirement Fund lifted its position in IonQ by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 61,481 shares of the company’s stock valued at $2,568,000 after acquiring an additional 8,800 shares in the last quarter. Truist Financial Corp bought a new position in IonQ in the 4th quarter valued at about $417,000. CIBC Asset Management Inc bought a new position in IonQ in the 4th quarter valued at about $271,000. Sanctuary Advisors LLC bought a new position in IonQ in the 4th quarter valued at about $998,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of IonQ during the 4th quarter worth approximately $3,144,000. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of IonQ stock opened at $22.33 on Wednesday. The company has a 50-day simple moving average of $37.78 and a two-hundred day simple moving average of $25.22. The stock has a market capitalization of $4.83 billion, a PE ratio of -27.57 and a beta of 2.40. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

Insider Buying and Selling

In other news, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction that occurred on 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 directly owns 414,363 shares in the company, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock worth $1,314,652 in the last three months. Insiders own 11.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IONQ. Craig Hallum lifted their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Benchmark decreased their price target on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group raised their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $44.80.

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.