18,816 Shares in IonQ, Inc. (NYSE:IONQ) Bought by Cibc World Markets Corp

Cibc World Markets Corp bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 18,816 shares of the company’s stock, valued at approximately $786,000.

Several other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP boosted its position in shares of IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock worth $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock worth $47,000 after purchasing an additional 480 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after purchasing an additional 501 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ during the 4th quarter worth $26,000. Finally, Spire Wealth Management boosted its position in shares of 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. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 20,047 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the transaction, the executive now owns 572,568 shares of the company’s stock, valued at approximately $10,632,587.76. The trade was a 3.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $217,491.84. Following the completion of the transaction, the chief financial officer now directly owns 944,510 shares of the company’s stock, valued at $17,539,550.70. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by insiders.

IonQ Trading Up 5.3 %

Shares of IONQ stock opened at $22.26 on Friday. The firm has a 50-day moving average price of $32.43 and a 200 day moving average price of $26.41. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of -27.47 and a beta of 2.50.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark decreased their target price on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $44.80.

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.