TD Waterhouse Canada Inc. Purchases Shares of 802 IonQ, Inc. (NYSE:IONQ)

TD Waterhouse Canada Inc. purchased a new stake in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 802 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in shares of IonQ in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in shares of IonQ by 421.0% in the fourth 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 acquired a new position in shares of IonQ in the fourth quarter valued at about $34,000. City State Bank acquired a new stake in IonQ during the fourth quarter worth about $36,000. Finally, Hemington Wealth Management acquired a new stake in IonQ during the fourth quarter worth about $37,000. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Performance

NYSE:IONQ opened at $28.69 on Tuesday. The company has a fifty day moving average of $24.62 and a two-hundred day moving average of $29.66. The stock has a market capitalization of $6.39 billion, a PE ratio of -35.42 and a beta of 2.50. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. DA Davidson dropped their target price on IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. Benchmark decreased their target price on IonQ from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and an average target price of $40.80.

Insider Activity

In related news, CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the sale, the executive now directly owns 592,615 shares in the company, valued at approximately $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the sale, the chief financial officer now owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,033,166 shares of company stock worth $38,059,593 over the last three months. Insiders own 11.60% of the company’s stock.

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.