Mirae Asset Global Investments Co. Ltd. bought a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 84,440 shares of the company's stock, valued at approximately $3,840,000.
Other institutional investors have also modified their holdings of the company. City State Bank acquired a new position in shares of IonQ in the fourth quarter valued at approximately $36,000. Versant Capital Management Inc increased its holdings in shares of IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company's stock valued at $40,000 after purchasing an additional 890 shares during the period. Spire Wealth Management increased its holdings in shares of IonQ by 406.3% in the fourth quarter. Spire Wealth Management now owns 962 shares of the company's stock valued at $40,000 after purchasing an additional 772 shares during the period. Riggs Asset Managment Co. Inc. grew its holdings in IonQ by 2,325.0% during the fourth quarter. Riggs Asset Managment Co. Inc. now owns 970 shares of the company's stock worth $43,000 after acquiring an additional 930 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in IonQ during the fourth quarter worth $42,000. Institutional investors and hedge funds own 41.42% of the company's stock.
Insiders Place Their Bets
In other news, CRO Rima Alameddine sold 21,337 shares of the company's stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the sale, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the company's 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 completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on IONQ shares. Needham & Company LLC upped their price objective on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Craig Hallum upped their price objective on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Benchmark upped their price objective on IonQ from $12.00 to $22.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. The Goldman Sachs Group upped 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. Finally, 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, IonQ has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.
Read Our Latest Stock Report on IonQ
IonQ Price Performance
IONQ traded up $0.30 during trading on Wednesday, reaching $38.00. 11,856,563 shares of the stock were exchanged, compared to its average volume of 30,118,184. The business's 50 day moving average price is $39.56 and its two-hundred day moving average price is $22.67. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of -46.91 and a beta of 2.40. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.
IonQ Profile
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Free Report)
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.
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