Life Planning Partners Inc Buys New Position in IonQ, Inc. (NYSE:IONQ)

Life Planning Partners Inc purchased a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,305 shares of the company’s stock, valued at approximately $472,000.

A number of other large investors have also modified their holdings of IONQ. Pathway Financial Advisers LLC acquired a new stake in IonQ in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its stake in shares of IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after buying an additional 501 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of IonQ during the fourth quarter valued at $34,000. City State Bank acquired a new position in shares of IonQ in the 4th quarter valued at $36,000. Finally, Sandy Spring Bank raised its stake in IonQ by 350.0% in the 4th quarter. Sandy Spring Bank now owns 900 shares of the company’s stock worth $38,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

NYSE:IONQ opened at $22.92 on Friday. The company has a fifty day moving average of $31.35 and a two-hundred day moving average of $27.03. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The stock has a market capitalization of $5.11 billion, a PE ratio of -28.30 and a beta of 2.50.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Benchmark reduced their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of IonQ in a research note on Thursday, February 27th. Craig Hallum boosted their target price 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. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. One 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 company. According to data from MarketBeat, IonQ currently has an average rating of “Buy” and an average price target of $44.80.

Insider Transactions at IonQ

In other IonQ news, insider Peter Hume Chapman sold 2,000,000 shares of the firm’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 transaction, the insider now directly owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William F. Scannell purchased 93,066 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the acquisition, the director now owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. The trade was a 221.69 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last ninety days. Insiders own 11.60% of the company’s stock.

IonQ Company 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.