Wilmington Savings Fund Society FSB Acquires Shares of 13,145 IonQ, Inc. (NYSE:IONQ)

Wilmington Savings Fund Society FSB bought a new position in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 13,145 shares of the company’s stock, valued at approximately $549,000.

Several other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in shares of IonQ during the fourth quarter valued at about $34,000. City State Bank purchased a new position in shares of IonQ during the fourth quarter valued at approximately $36,000. Versant Capital Management Inc raised its holdings in shares of IonQ by 1,348.5% during the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after acquiring an additional 890 shares in the last quarter. Spire Wealth Management lifted its stake in IonQ by 406.3% in the fourth quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $40,000 after acquiring an additional 772 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in IonQ in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insiders Place Their Bets

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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 $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,223 shares of company stock valued at $1,314,652. Insiders own 11.60% of the company’s stock.

IonQ Price Performance

IONQ opened at $41.08 on Tuesday. The firm has a market cap of $8.89 billion, a PE ratio of -50.71 and a beta of 2.40. The stock has a 50-day moving average price of $39.28 and a 200-day moving average price of $22.23. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

Analyst Upgrades and Downgrades

IONQ has been the subject of several research reports. Needham & Company LLC upped their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their price target 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. Benchmark lifted 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. DA Davidson assumed coverage on IonQ in a research report on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, IonQ 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.