Private Portfolio Partners LLC Buys 2,030 Shares of IonQ, Inc. (NYSE:IONQ)

Private Portfolio Partners LLC increased its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,140 shares of the company’s stock after purchasing an additional 2,030 shares during the quarter. Private Portfolio Partners LLC’s holdings in IonQ were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in shares of IonQ in the third quarter worth about $381,000. Charles Schwab Investment Management Inc. boosted its stake in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after purchasing an additional 135,851 shares during the period. D.A. Davidson & CO. boosted its stake in shares of IonQ by 15.6% during the third quarter. D.A. Davidson & CO. now owns 94,568 shares of the company’s stock valued at $827,000 after purchasing an additional 12,788 shares during the period. FMR LLC raised its position in IonQ by 7.2% during the 3rd quarter. FMR LLC now owns 612,625 shares of the company’s stock valued at $5,354,000 after purchasing an additional 41,125 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in IonQ by 34.2% during 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 in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IONQ. Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of IonQ in a report on Monday. Craig Hallum lifted their target price on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group boosted their target price 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, IonQ has an average rating of “Buy” and a consensus price target of $44.80.

Insiders Place Their Bets

In other news, Director William F. Scannell purchased 93,066 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the acquisition, the director now directly owns 135,047 shares in the company, valued at $2,945,375.07. This represents a 221.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by company insiders.

IonQ Trading Up 5.3 %

Shares of NYSE:IONQ opened at $23.23 on Wednesday. The firm has a 50 day simple moving average of $30.57 and a 200-day simple moving average of $27.38. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market capitalization of $5.18 billion, a PE ratio of -28.68 and a beta of 2.50.

IonQ 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.