Signaturefd LLC Grows Stake in IonQ, Inc. (NYSE:IONQ)

Signaturefd LLC boosted its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 23.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,354 shares of the company’s stock after buying an additional 637 shares during the quarter. Signaturefd LLC’s holdings in IonQ were worth $140,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Prospera Financial Services Inc raised its stake in IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after purchasing an additional 25,502 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of IonQ during the third quarter valued at approximately $92,000. Intech Investment Management LLC acquired a new stake in IonQ during the third quarter worth approximately $381,000. Charles Schwab Investment Management Inc. grew its stake in IonQ by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after acquiring an additional 135,851 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in IonQ by 15.6% in the 3rd quarter. D.A. Davidson & CO. now owns 94,568 shares of the company’s stock valued at $827,000 after acquiring an additional 12,788 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the transaction, the executive now owns 592,615 shares in the company, valued at $12,563,438. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares of the company’s stock, valued at approximately $7,756,875.36. This trade represents a 82.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock valued at $38,059,593 over the last ninety days. Corporate insiders own 11.60% of the company’s stock.

IonQ Price Performance

NYSE IONQ opened at $22.26 on Monday. The business’s 50-day simple moving average is $32.43 and its 200-day simple moving average is $26.55. The firm has a market capitalization of $4.96 billion, a P/E ratio of -27.47 and a beta of 2.50. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.

Wall Street Analysts Forecast Growth

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

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.