Strategic Financial Concepts LLC Takes Position in IonQ, Inc. (NYSE:IONQ)

Strategic Financial Concepts LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 41,770 shares of the company’s stock, valued at approximately $1,745,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. City State Bank purchased a new position in IonQ during the fourth quarter valued at approximately $36,000. Versant Capital Management Inc grew its stake in IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares in the last quarter. Spire Wealth Management grew its stake in IonQ by 406.3% in the fourth quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after purchasing an additional 772 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in IonQ in the fourth quarter valued at about $42,000. Finally, Riggs Asset Managment Co. Inc. grew its stake in IonQ by 2,325.0% in the fourth quarter. Riggs Asset Managment Co. Inc. now owns 970 shares of the company’s stock valued at $43,000 after purchasing an additional 930 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Up 1.2 %

Shares of NYSE IONQ opened at $41.08 on Tuesday. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The company has a market cap of $8.89 billion, a P/E ratio of -50.71 and a beta of 2.40. The business’s 50 day moving average is $39.28 and its two-hundred day moving average is $22.23.

Insider Buying and Selling

In related news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was 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 directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction on 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 directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on IONQ. 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 note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. DA Davidson began coverage on IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price for the company. Benchmark increased their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum boosted their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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.