StoneX Group Inc. Purchases 2,390 Shares of IonQ, Inc. (NYSE:IONQ)

StoneX Group Inc. increased its stake in shares of IonQ, Inc. (NYSE:IONQ) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 70,621 shares of the company’s stock after purchasing an additional 2,390 shares during the period. StoneX Group Inc.’s holdings in IonQ were worth $2,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of IONQ. Intech Investment Management LLC bought a new position in IonQ during the third quarter worth about $381,000. Charles Schwab Investment Management Inc. grew its position 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 buying an additional 135,851 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of IonQ by 15.6% during the 3rd quarter. D.A. Davidson & CO. now owns 94,568 shares of the company’s stock valued at $827,000 after purchasing an additional 12,788 shares in the last quarter. FMR LLC lifted its holdings in shares of IonQ by 7.2% in the third quarter. FMR LLC now owns 612,625 shares of the company’s stock valued at $5,354,000 after purchasing an additional 41,125 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake 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. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Price Performance

IonQ stock opened at $22.13 on Tuesday. The stock has a market capitalization of $4.93 billion, a PE ratio of -27.32 and a beta of 2.50. The business’s fifty day moving average is $31.01 and its 200 day moving average is $27.27. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IONQ shares. The Goldman Sachs Group boosted their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $45.00 price target on shares of IonQ in a report on Monday. Finally, Craig Hallum raised their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $44.80.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the company’s stock in a transaction that occurred on 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 approximately $12,563,438. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William F. Scannell acquired 93,066 shares of IonQ stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the purchase, the director now directly owns 135,047 shares in the company, valued at approximately $2,945,375.07. The trade was a 221.69 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Corporate insiders own 11.60% of the company’s stock.

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.