IonQ, Inc. (NYSE:IONQ) Shares Purchased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC boosted its position in IonQ, Inc. (NYSE:IONQ) by 421.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 620 shares of the company’s stock after purchasing an additional 501 shares during the period. Smartleaf Asset Management LLC’s holdings in IonQ were worth $27,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IONQ. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ during the 4th quarter valued at $26,000. Golden State Wealth Management LLC acquired a new stake in shares of IonQ during the 4th quarter valued at $34,000. City State Bank acquired a new stake in shares of IonQ during the 4th quarter valued at $36,000. Hemington Wealth Management acquired a new stake in shares of IonQ during the 4th quarter valued at $37,000. Finally, Versant Capital Management Inc lifted its position in shares of IonQ by 1,348.5% during the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after acquiring an additional 890 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at IonQ

In related news, Director William F. Scannell purchased 93,066 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the purchase, the director now owns 135,047 shares of the company’s stock, valued at $2,945,375.07. The trade was a 221.69 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of the company’s stock in a transaction 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 in the company, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.

IonQ Stock Up 16.7 %

Shares of NYSE:IONQ opened at $21.83 on Thursday. The company’s fifty day moving average is $34.91 and its two-hundred day moving average is $25.64. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The company has a market cap of $4.86 billion, a P/E ratio of -26.94 and a beta of 2.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IONQ shares. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. Craig Hallum increased their price objective on 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 company a “neutral” rating in a research report on Friday, January 10th. Benchmark cut their target price on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IonQ has an average rating of “Buy” and a consensus target price 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.