Fagan Associates Inc. lessened its stake in shares of IonQ, Inc. (NYSE:IONQ – Free Report) by 13.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,086 shares of the company’s stock after selling 1,650 shares during the quarter. Fagan Associates Inc.’s holdings in IonQ were worth $463,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of IonQ by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after buying an additional 199,360 shares during the last quarter. State Street Corp lifted 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 worth $37,240,000 after buying an additional 75,596 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 worth $14,107,000 after buying an additional 135,851 shares during the last quarter. Chevy Chase Trust Holdings LLC acquired a new stake in IonQ in the 4th quarter worth about $32,060,000. Finally, FMR LLC raised its stake 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 purchasing an additional 41,125 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.
Insider Activity
In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the firm’s 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 sale, the executive now owns 571,321 shares in the company, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were 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 owns 926,114 shares in the company, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is currently owned by corporate insiders.
IonQ Stock Performance
Wall Street Analysts Forecast Growth
Several analysts have weighed in on IONQ shares. DA Davidson started coverage on shares of IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 price objective for the company. 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 note on Friday, December 20th. Needham & Company LLC lifted their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective 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. Finally, Benchmark lifted their price objective on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.
Check Out Our Latest Research Report on IONQ
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.
Featured Stories
- Five stocks we like better than IonQ
- High Dividend REITs: Are They an Ideal Way to Diversify?
- Affirm Hits Profitability—Here’s What Investors Should Watch
- 3 Warren Buffett Stocks to Buy Now
- There’s Room to Chase These 3 Stocks Trading Near 52-Week Highs
- How to Effectively Use the MarketBeat Ratings Screener
- 3 Stocks With Robust Growth Outlooks Insiders Are Buying
Receive News & Ratings for IonQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IonQ and related companies with MarketBeat.com's FREE daily email newsletter.