Hemington Wealth Management Purchases Shares of 903 IonQ, Inc. (NYSE:IONQ)

Hemington Wealth Management acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 903 shares of the company’s stock, valued at approximately $37,000.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of IonQ in the fourth quarter worth about $34,000. City State Bank acquired a new position in IonQ in the 4th quarter worth approximately $36,000. Versant Capital Management Inc grew its position in IonQ by 1,348.5% during the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after purchasing an additional 890 shares in the last quarter. Spire Wealth Management grew its position in IonQ by 406.3% during the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $40,000 after purchasing an additional 772 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in IonQ during the 4th quarter valued at $42,000. 41.42% of the stock is owned by institutional investors.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the sale, the executive now owns 571,321 shares of the company’s stock, valued at $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 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 transaction of $389,641.38. Following the completion of the transaction, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock worth $1,314,652 in the last three months. 11.60% of the stock is owned by insiders.

IonQ Price Performance

Shares of NYSE IONQ opened at $38.76 on Friday. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The business’s 50-day moving average price is $39.65 and its two-hundred day moving average price is $22.78. The company has a market capitalization of $8.39 billion, a P/E ratio of -47.86 and a beta of 2.40.

Analyst Ratings Changes

Several analysts have recently commented on IONQ shares. Benchmark raised their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC increased their price target on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, DA Davidson began coverage on shares of IonQ in a report on Thursday, December 19th. They set a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, IonQ has an average rating of “Moderate Buy” and an average target price of $33.00.

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.