Intech Investment Management LLC Boosts Stock Position in IonQ, Inc. (NYSE:IONQ)

Intech Investment Management LLC raised its position in shares of IonQ, Inc. (NYSE:IONQ) by 126.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 98,835 shares of the company’s stock after purchasing an additional 55,226 shares during the quarter. Intech Investment Management LLC’s holdings in IonQ were worth $4,128,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. PDS Planning Inc boosted its stake in shares of IonQ by 2.6% in the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock worth $494,000 after buying an additional 300 shares during the last quarter. Signaturefd LLC boosted its stake in shares of IonQ by 23.4% in the fourth quarter. Signaturefd LLC now owns 3,354 shares of the company’s stock worth $140,000 after buying an additional 637 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of IonQ in the fourth quarter worth about $786,000. Harbour Investments Inc. boosted its stake in shares of IonQ by 27.1% in the fourth quarter. Harbour Investments Inc. now owns 5,293 shares of the company’s stock worth $221,000 after buying an additional 1,127 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of IonQ by 212.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 110,865 shares of the company’s stock worth $4,631,000 after buying an additional 75,420 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the sale, the chief financial officer now owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Rima Alameddine sold 20,047 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the sale, the executive now directly owns 572,568 shares of the company’s stock, valued at approximately $10,632,587.76. This represents a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,033,166 shares of company stock valued at $38,059,593 over the last quarter. 11.60% of the stock is currently owned by insiders.

IonQ Trading Down 8.9 %

NYSE IONQ opened at $22.72 on Wednesday. The stock has a 50-day moving average of $32.96 and a 200 day moving average of $26.23. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of -28.05 and a beta of 2.50.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IONQ shares. The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark reduced their price target on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. Finally, Craig Hallum upped their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $44.80.

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.