Raymond James & Associates Buys Shares of 34,841 IonQ, Inc. (NYSE:IONQ)

Raymond James & Associates acquired a new position in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,841 shares of the company’s stock, valued at approximately $432,000.

Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of IonQ by 32.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the company’s stock worth $60,000 after acquiring an additional 1,000 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of IonQ by 28.0% in the 4th quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock worth $56,000 after acquiring an additional 990 shares during the last quarter. C M Bidwell & Associates Ltd. lifted its holdings in IonQ by 61.2% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 4,542 shares of the company’s stock worth $68,000 after buying an additional 1,724 shares in the last quarter. National Bank of Canada FI lifted its holdings in IonQ by 806.4% during the 3rd quarter. National Bank of Canada FI now owns 6,345 shares of the company’s stock worth $93,000 after buying an additional 5,645 shares in the last quarter. Finally, Precision Wealth Strategies LLC acquired a new stake in IonQ during the 3rd quarter worth approximately $151,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IonQ

In related news, CTO Jungsang Kim sold 10,220 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the transaction, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Jungsang Kim sold 10,220 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the transaction, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Rima Alameddine sold 27,212 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $277,562.40. Following the completion of the transaction, the executive now directly owns 697,647 shares in the company, valued at $7,115,999.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,556 shares of company stock valued at $882,871. Insiders own 13.00% of the company’s stock.

IonQ Trading Up 9.7 %

Shares of NYSE:IONQ opened at $8.97 on Friday. IonQ, Inc. has a 52 week low of $5.29 and a 52 week high of $21.60. The company’s 50 day moving average is $9.37 and its two-hundred day moving average is $11.16. The company has a market cap of $1.87 billion, a PE ratio of -11.50 and a beta of 2.14.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. The company had revenue of $6.11 million for the quarter, compared to the consensus estimate of $5.70 million. As a group, equities research analysts expect that IonQ, Inc. will post -1.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of IonQ in a report on Thursday, February 29th. The Goldman Sachs Group reduced their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

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.