Stratos Wealth Partners LTD. Reduces Stock Position in IonQ, Inc. (NYSE:IONQ)

Stratos Wealth Partners LTD. lessened its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 18.9% during the 4th quarter, HoldingsChannel reports. The fund owned 17,926 shares of the company’s stock after selling 4,189 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in IonQ were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of IONQ. Geode Capital Management LLC increased its holdings in IonQ by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock valued at $38,640,000 after acquiring an additional 199,360 shares during the last quarter. State Street Corp grew its stake in shares of IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after buying an additional 75,596 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after purchasing an additional 135,851 shares during the period. FMR LLC boosted its stake in shares of IonQ by 7.2% during the 3rd quarter. FMR LLC now owns 612,625 shares of the company’s stock worth $5,354,000 after purchasing an additional 41,125 shares during the period. Finally, Carnegie Investment Counsel purchased a new stake in IonQ in the 3rd quarter valued at about $5,036,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IONQ shares. Craig Hallum boosted their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC upped their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. DA Davidson began coverage on shares of IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price target on the stock. Benchmark upped their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

IonQ Stock Up 1.2 %

Shares of IonQ stock opened at $41.08 on Tuesday. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The company has a 50 day moving average of $39.28 and a 200 day moving average of $22.23. The company has a market capitalization of $8.89 billion, a P/E ratio of -50.71 and a beta of 2.40.

Insider Activity

In other news, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock valued at $1,314,652 in the last ninety days. 11.60% of the stock is currently owned by company insiders.

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.