Stephens Inc. AR Takes $936,000 Position in IonQ, Inc. (NYSE:IONQ)

Stephens Inc. AR acquired a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 22,408 shares of the company’s stock, valued at approximately $936,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IONQ. Golden State Wealth Management LLC acquired a new position in IonQ during the fourth quarter worth about $34,000. City State Bank bought a new stake in shares of IonQ during the 4th quarter worth $36,000. Versant Capital Management Inc grew its holdings in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after acquiring an additional 890 shares during the last quarter. Spire Wealth Management raised its position in shares of IonQ by 406.3% during the fourth quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $40,000 after purchasing an additional 772 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its position in shares of IonQ by 2,325.0% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 970 shares of the company’s stock valued at $43,000 after purchasing an additional 930 shares during the period. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

IonQ stock opened at $38.76 on Friday. The firm’s 50 day moving average price is $39.65 and its two-hundred day moving average price is $22.78. The firm has a market cap of $8.39 billion, a PE ratio of -47.86 and a beta of 2.40. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74.

Insider Transactions at IonQ

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IONQ. DA Davidson started coverage on IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective on the stock. Needham & Company LLC upped their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum lifted their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Benchmark increased their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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.