Tradewinds LLC. Takes Position in IonQ, Inc. (NYSE:IONQ)

Tradewinds LLC. bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,484 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new stake in shares of IonQ during the 4th quarter worth approximately $1,565,000. Alliancebernstein L.P. lifted its position in IonQ by 11.7% in the fourth quarter. Alliancebernstein L.P. now owns 243,581 shares of the company’s stock valued at $10,174,000 after acquiring an additional 25,471 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in IonQ in the fourth quarter valued at $330,000. Life Planning Partners Inc purchased a new position in shares of IonQ during the fourth quarter worth about $472,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of IonQ during the fourth quarter worth about $29,513,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

NYSE:IONQ opened at $23.23 on Wednesday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -28.68 and a beta of 2.50. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The firm’s fifty day moving average price is $30.57 and its 200 day moving average price is $27.38.

Insider Activity

In other IonQ news, CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now owns 944,510 shares in the company, valued at approximately $17,539,550.70. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the sale, the executive now directly owns 592,615 shares of the company’s stock, valued at approximately $12,563,438. This trade represents a 0.24 % 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 quarter. Corporate insiders own 11.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IONQ shares. 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. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group lifted their target price on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Finally, Benchmark restated a “buy” rating and issued a $45.00 price objective on shares of IonQ in a research note on Monday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.