SBI Securities Co. Ltd. Acquires New Holdings in IonQ, Inc. (NYSE:IONQ)

SBI Securities Co. Ltd. bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, Holdings Channel reports. The institutional investor bought 126,982 shares of the company’s stock, valued at approximately $5,304,000.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of IonQ by 15.2% during the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock worth $116,000 after buying an additional 363 shares during the period. GAMMA Investing LLC lifted its position in shares of IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after acquiring an additional 480 shares during the period. Smartleaf Asset Management LLC grew its stake in 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 in the last quarter. Pathway Financial Advisers LLC bought a new position in IonQ in the fourth quarter valued at approximately $26,000. Finally, Spire Wealth Management boosted its stake in shares of IonQ by 406.3% in the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after purchasing an additional 772 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Down 1.3 %

NYSE IONQ opened at $24.60 on Friday. The stock’s 50-day simple moving average is $38.59 and its two-hundred day simple moving average is $24.88. 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 $5.32 billion, a price-to-earnings ratio of -30.37 and a beta of 2.40.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Benchmark cut their target price on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price target 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. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.