Strategic Financial Concepts LLC Invests $1.75 Million in IonQ, Inc. (NYSE:IONQ)

Strategic Financial Concepts LLC purchased a new stake in IonQ, Inc. (NYSE:IONQ) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 41,770 shares of the company’s stock, valued at approximately $1,745,000.

Several other hedge funds have also recently bought and sold shares of IONQ. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 135,851 shares in the last quarter. Carnegie Investment Counsel bought a new stake in IonQ during the third quarter worth about $5,036,000. Yong Rong HK Asset Management Ltd acquired a new stake in shares of IonQ during the third quarter worth approximately $3,749,000. Rockefeller Capital Management L.P. raised its stake in shares of 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 during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in IonQ during the 3rd quarter worth approximately $1,631,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Trading Up 1.2 %

NYSE:IONQ opened at $41.08 on Tuesday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of -50.71 and a beta of 2.40. The business’s 50-day moving average price is $39.28 and its two-hundred day moving average price is $22.23.

Insider Activity

In other news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following 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 ownership of the stock. The transaction 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 the business’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 $389,641.38. Following the completion of the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This 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 ninety days. 11.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IONQ shares. Craig Hallum increased their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. DA Davidson started coverage on shares of IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target for the company. Benchmark increased their price objective on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC boosted their price objective on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.