Smartleaf Asset Management LLC Has $27,000 Stake in IonQ, Inc. (NYSE:IONQ)

Smartleaf Asset Management LLC boosted its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 421.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 620 shares of the company’s stock after buying an additional 501 shares during the quarter. Smartleaf Asset Management LLC’s holdings in IonQ were worth $27,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IONQ. LMR Partners LLP acquired a new position in IonQ during the third quarter worth $874,000. Prospera Financial Services Inc boosted its holdings in IonQ by 196.1% during the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after acquiring an additional 25,502 shares during the period. Moors & Cabot Inc. bought a new stake in IonQ during the third quarter valued at about $92,000. Intech Investment Management LLC bought a new stake in IonQ during the third quarter valued at about $381,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after acquiring an additional 135,851 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

IonQ Stock Performance

NYSE IONQ opened at $21.83 on Thursday. The firm has a 50-day simple moving average of $34.91 and a 200 day simple moving average of $25.64. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock has a market cap of $4.86 billion, a PE ratio of -26.94 and a beta of 2.50.

Insider Activity at IonQ

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the transaction, the executive now owns 592,615 shares in the company, valued at $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Scannell purchased 93,066 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the purchase, the director now owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 11.60% of the stock is owned by corporate insiders.

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.