Xponance Inc. Purchases 1,569 Shares of IonQ, Inc. (NYSE:IONQ)

Xponance Inc. raised its position in shares of IonQ, Inc. (NYSE:IONQ) by 11.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,806 shares of the company’s stock after purchasing an additional 1,569 shares during the quarter. Xponance Inc.’s holdings in IonQ were worth $618,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 135,851 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in IonQ by 34.2% in the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after acquiring an additional 111,435 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in IonQ in the 3rd quarter worth $1,631,000. State Street Corp boosted its stake in shares of IonQ by 1.8% during the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after purchasing an additional 75,596 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in IonQ during the 4th quarter valued at approximately $3,840,000. Institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling

In other news, insider Peter Hume Chapman sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the sale, the insider now owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the completion of the sale, the chief financial officer now owns 944,510 shares of the company’s stock, valued at $17,539,550.70. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock worth $38,059,593 in the last three months. Insiders own 11.60% of the company’s stock.

IonQ Stock Performance

Shares of NYSE IONQ opened at $25.47 on Wednesday. The firm’s 50 day moving average price is $32.32 and its 200-day moving average price is $26.81. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The company has a market cap of $5.68 billion, a PE ratio of -31.44 and a beta of 2.50.

Analysts Set New Price Targets

Several research analysts recently issued reports on IONQ shares. The Goldman Sachs Group increased their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price objective on shares of IonQ in a report on Thursday, February 27th. 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. Craig Hallum upped their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. One 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 data from MarketBeat.com, IonQ currently has a consensus rating of “Buy” and a consensus price target of $44.80.

About IonQ

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.