Tucker Asset Management LLC Boosts Stock Position in IonQ, Inc. (NYSE:IONQ)

Tucker Asset Management LLC raised its holdings in IonQ, Inc. (NYSE:IONQ) by 181.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,943 shares of the company’s stock after purchasing an additional 1,253 shares during the quarter. Tucker Asset Management LLC’s holdings in IonQ were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IONQ. Intech Investment Management LLC bought a new stake in shares of IonQ in the 3rd quarter worth approximately $381,000. Charles Schwab Investment Management Inc. lifted its position in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after buying an additional 135,851 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of IonQ by 15.6% during the 3rd quarter. D.A. Davidson & CO. now owns 94,568 shares of the company’s stock worth $827,000 after acquiring an additional 12,788 shares during the period. FMR LLC increased its holdings in IonQ by 7.2% in the 3rd quarter. FMR LLC now owns 612,625 shares of the company’s stock worth $5,354,000 after acquiring an additional 41,125 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of IonQ by 34.2% in the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock worth $3,825,000 after purchasing an additional 111,435 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IonQ

In related news, insider Peter Hume Chapman sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 in the company, valued at $7,756,875.36. The trade was a 82.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William F. Scannell purchased 93,066 shares of IonQ stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the transaction, the director now directly owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. The trade was a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. Insiders own 11.60% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the subject of several analyst reports. The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Craig Hallum upped their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Benchmark cut their price target 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. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $44.80.

IonQ Price Performance

Shares of IonQ stock opened at $22.92 on Friday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The firm has a market cap of $5.11 billion, a PE ratio of -28.30 and a beta of 2.50. The company has a 50 day simple moving average of $31.35 and a two-hundred day simple moving average of $27.03.

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.