57,242 Shares in IonQ, Inc. (NYSE:IONQ) Acquired by Mission Wealth Management LP

Mission Wealth Management LP purchased a new stake in IonQ, Inc. (NYSE:IONQ) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 57,242 shares of the company’s stock, valued at approximately $2,391,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IONQ. Pathway Financial Advisers LLC bought a new stake in IonQ in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC raised its stake in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 501 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of IonQ in the fourth quarter valued at about $34,000. City State Bank acquired a new position in shares of IonQ during the fourth quarter worth about $36,000. Finally, Hemington Wealth Management bought a new position in shares of IonQ during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Activity

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction 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 owns 926,114 shares of the company’s stock, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock valued at $1,314,652 in the last quarter. Company insiders own 11.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Craig Hallum boosted 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. Needham & Company LLC restated a “buy” rating and set a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. The Goldman Sachs Group lifted their price target on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Benchmark reduced their price objective on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IonQ presently has a consensus rating of “Buy” and a consensus target price of $44.80.

IonQ Trading Down 6.0 %

Shares of IONQ opened at $23.10 on Tuesday. The company’s fifty day simple moving average is $38.23 and its 200 day simple moving average is $25.11. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -28.52 and a beta of 2.40.

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.