Vontobel Holding Ltd. Raises Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Vontobel Holding Ltd. increased its position in IonQ, Inc. (NYSE:IONQ) by 45.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,018 shares of the company’s stock after purchasing an additional 19,456 shares during the period. Vontobel Holding Ltd.’s holdings in IonQ were worth $2,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new stake in IonQ in the fourth quarter worth $472,000. Pathway Financial Advisers LLC purchased a new stake in IonQ in the fourth quarter worth $26,000. Hemington Wealth Management purchased a new stake in IonQ in the fourth quarter worth $37,000. Allspring Global Investments Holdings LLC purchased a new stake in IonQ in the fourth quarter worth $237,000. Finally, Gladstone Institutional Advisory LLC purchased a new stake in shares of IonQ in the fourth quarter worth $434,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Price Performance

Shares of NYSE:IONQ opened at $37.47 on Monday. The company has a market cap of $8.11 billion, a P/E ratio of -46.26 and a beta of 2.40. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The stock’s fifty day moving average price is $39.69 and its 200-day moving average price is $23.20.

Analysts Set New Price Targets

A number of research firms have recently commented on IONQ. Needham & Company LLC increased their target price on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark increased their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Craig Hallum increased their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IonQ currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the 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 transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by company insiders.

About IonQ

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.