Wilmington Savings Fund Society FSB Takes $549,000 Position in IonQ, Inc. (NYSE:IONQ)

Wilmington Savings Fund Society FSB acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,145 shares of the company’s stock, valued at approximately $549,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of IonQ by 16.8% in the second quarter. The Manufacturers Life Insurance Company now owns 115,782 shares of the company’s stock worth $814,000 after purchasing an additional 16,642 shares during the period. Handelsbanken Fonder AB boosted its holdings in IonQ by 33.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 69,200 shares of the company’s stock worth $605,000 after buying an additional 17,200 shares during the period. Carnegie Investment Counsel bought a new position in IonQ in the 3rd quarter worth $5,036,000. Creative Planning raised its holdings in IonQ by 47.8% during the third quarter. Creative Planning now owns 24,364 shares of the company’s stock valued at $213,000 after acquiring an additional 7,878 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in IonQ by 49.5% during the third quarter. Vontobel Holding Ltd. now owns 42,562 shares of the company’s stock valued at $372,000 after acquiring an additional 14,095 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IONQ has been the subject of several research analyst reports. The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Craig Hallum increased their price objective 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 began coverage on shares of IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price on the stock. Benchmark raised their target price on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC boosted their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.00.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is currently owned by corporate insiders.

IonQ Stock Up 1.2 %

IONQ stock opened at $41.08 on Tuesday. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The firm has a market capitalization of $8.89 billion, a P/E ratio of -50.71 and a beta of 2.40. The company has a fifty day simple moving average of $39.28 and a two-hundred day simple moving average of $22.23.

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.