Rhumbline Advisers Buys 25,577 Shares of IonQ, Inc. (NYSE:IONQ)

Rhumbline Advisers increased its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 303,803 shares of the company’s stock after acquiring an additional 25,577 shares during the quarter. Rhumbline Advisers’ holdings in IonQ were worth $12,690,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IONQ. Creative Planning increased its holdings in shares of IonQ by 47.8% during the 3rd quarter. Creative Planning now owns 24,364 shares of the company’s stock worth $213,000 after acquiring an additional 7,878 shares during the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in shares of IonQ during the 3rd quarter worth approximately $3,749,000. Ground Swell Capital LLC acquired a new position in shares of IonQ during the 3rd quarter worth approximately $110,000. PDS Planning Inc acquired a new position in shares of IonQ during the 3rd quarter worth approximately $101,000. Finally, Verity Asset Management Inc. increased its holdings in shares of IonQ by 12.4% during the 3rd quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock worth $296,000 after acquiring an additional 3,736 shares during the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Down 6.0 %

Shares of NYSE:IONQ opened at $31.74 on Monday. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of -39.18 and a beta of 2.40. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The business’s 50 day moving average is $39.89 and its 200 day moving average is $24.27.

Insider Activity at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the business’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 transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. The trade was a 1.04 % 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, CEO Peter Hume Chapman sold 13,106 shares of the business’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 position. The disclosure for this sale can be found here. Insiders have sold a total of 44,223 shares of company stock valued at $1,314,652 over the last 90 days. Insiders own 11.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IONQ. The Goldman Sachs Group upped 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 raised IonQ to a “strong-buy” rating in a research note on Thursday. Craig Hallum lifted their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Benchmark lifted their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC lifted their target price on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IonQ currently has a consensus rating of “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.