Headlands Technologies LLC Raises Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Headlands Technologies LLC boosted its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 3,653.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,555 shares of the company’s stock after acquiring an additional 109,556 shares during the quarter. Headlands Technologies LLC owned 0.05% of IonQ worth $4,701,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of IONQ. Pathway Financial Advisers LLC bought a new stake in shares of IonQ during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its position in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 501 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of IonQ in the 4th quarter worth $34,000. City State Bank bought a new position in shares of IonQ during the 4th quarter worth $36,000. Finally, Hemington Wealth Management purchased a new position in shares of IonQ during the fourth quarter valued at $37,000. Institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IONQ shares. Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of IonQ in a research note on Monday. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Craig Hallum lifted their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group boosted their price objective 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $44.80.

IonQ Stock Down 3.1 %

Shares of IONQ opened at $22.13 on Tuesday. The company has a 50 day moving average of $31.01 and a two-hundred day moving average of $27.27. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market cap of $4.93 billion, a price-to-earnings ratio of -27.32 and a beta of 2.50.

Insider Activity

In other news, CRO Rima Alameddine sold 1,407 shares of the company’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 transaction, the executive now owns 592,615 shares in the company, valued at $12,563,438. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,033,166 shares of company stock worth $38,059,593. Insiders own 11.60% of the company’s stock.

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.