Golden State Wealth Management LLC Makes New $34,000 Investment in IonQ, Inc. (NYSE:IONQ)

Golden State Wealth Management LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, Holdings Channel reports. The institutional investor bought 808 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in IonQ by 4.7% during 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 increased its holdings in shares of IonQ by 1.8% in the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after purchasing an additional 75,596 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of IonQ by 9.2% during the third 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 last quarter. FMR LLC lifted its holdings in shares of IonQ by 7.2% during the third 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, Rockefeller Capital Management L.P. grew its position in IonQ by 34.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after buying an additional 111,435 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at IonQ

In other news, CRO Rima Alameddine sold 21,337 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the transaction, the executive now directly owns 571,321 shares of the company’s stock, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the sale, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock valued at $1,314,652 in the last ninety days. Corporate insiders own 11.60% of the company’s stock.

IonQ Trading Down 8.1 %

Shares of IonQ stock opened at $37.74 on Wednesday. The company has a 50-day moving average of $39.46 and a two-hundred day moving average of $22.46. The stock has a market cap of $8.17 billion, a PE ratio of -46.59 and a beta of 2.40. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

IonQ 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.