Proficio Capital Partners LLC Acquires New Holdings in IonQ, Inc. (NYSE:IONQ)

Proficio Capital Partners LLC bought a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,306 shares of the company’s stock, valued at approximately $2,352,000.

Several other large investors also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. bought a new stake in IonQ in the fourth quarter worth about $2,211,000. Charles Schwab Investment Management Inc. raised its holdings in shares of IonQ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock worth $68,740,000 after purchasing an additional 31,638 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in IonQ by 368.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,373 shares of the company’s stock valued at $392,000 after purchasing an additional 7,373 shares during the last quarter. Mission Wealth Management LP bought a new stake in IonQ during the fourth quarter worth approximately $2,391,000. Finally, SBI Securities Co. Ltd. acquired a new position in IonQ in the fourth quarter worth approximately $5,304,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Activity

In related news, insider Peter Hume Chapman sold 2,000,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 414,363 shares in the company, valued at $7,756,875.36. The trade was a 82.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the transaction, the executive now directly owns 592,615 shares of the company’s stock, valued at approximately $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by insiders.

IonQ Stock Down 8.9 %

Shares of IONQ stock opened at $22.72 on Wednesday. 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 $5.06 billion, a PE ratio of -28.05 and a beta of 2.50. The business’s 50 day moving average is $32.96 and its two-hundred day moving average is $26.23.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IONQ shares. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Benchmark decreased their target price on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price target on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.