Kovitz Investment Group Partners LLC Purchases New Holdings in IonQ, Inc. (NYSE:IONQ)

Kovitz Investment Group Partners LLC acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,743 shares of the company's stock, valued at approximately $407,000.

Several other institutional investors have also added to or reduced their stakes in the business. PDS Planning Inc grew its position in IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after buying an additional 300 shares in the last quarter. Mariner LLC boosted its position in shares of IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after acquiring an additional 350 shares during the last quarter. Allworth Financial LP grew its holdings in shares of IonQ by 15.2% during the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock worth $47,000 after purchasing an additional 480 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after purchasing an additional 501 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IONQ has been the subject of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Benchmark reduced their target price on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group lifted 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. Finally, DA Davidson reduced their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

IonQ Stock Performance

IONQ stock traded up $3.54 during trading on Friday, hitting $30.92. 23,944,080 shares of the company traded hands, compared to its average volume of 16,235,434. The company has a 50-day moving average of $24.35 and a 200-day moving average of $29.75. The firm has a market capitalization of $6.89 billion, a PE ratio of -38.17 and a beta of 2.50. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

Insider Activity

In other news, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the sale, the insider now directly owns 414,363 shares in the company, valued at approximately $7,756,875.36. This trade represents a 82.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William F. Scannell bought 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 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.