30,037 Shares in IonQ, Inc. (NYSE:IONQ) Acquired by Sei Investments Co.

Sei Investments Co. acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, Holdings Channel reports. The firm acquired 30,037 shares of the company’s stock, valued at approximately $1,255,000.

Several other hedge funds have also added to or reduced their stakes in IONQ. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its position in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after acquiring an additional 501 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in IonQ during the 4th quarter valued at $34,000. City State Bank bought a new stake in shares of IonQ in the 4th quarter worth $36,000. Finally, Sandy Spring Bank raised its stake in shares of IonQ by 350.0% in the fourth quarter. Sandy Spring Bank now owns 900 shares of the company’s stock worth $38,000 after purchasing an additional 700 shares during the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Transactions at IonQ

In other IonQ news, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 414,363 shares of the company’s stock, valued at approximately $7,756,875.36. This trade represents a 82.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William F. Scannell bought 93,066 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the acquisition, the director now owns 135,047 shares in the company, valued at approximately $2,945,375.07. This represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 2,033,166 shares of company stock valued at $38,059,593 in the last quarter. 11.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IONQ. Craig Hallum raised their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group raised 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. Benchmark reissued a “buy” rating and issued a $45.00 target price on shares of IonQ in a report on Monday, March 31st. Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. Finally, DA Davidson raised shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. One research 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 MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $44.80.

IonQ Stock Performance

Shares of IONQ opened at $20.61 on Monday. The stock has a market capitalization of $4.59 billion, a PE ratio of -25.44 and a beta of 2.50. The company has a 50 day moving average price of $29.47 and a 200-day moving average price of $27.70. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

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.