Concurrent Investment Advisors LLC Makes New $396,000 Investment in IonQ, Inc. (NYSE:IONQ)

Concurrent Investment Advisors LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,486 shares of the company’s stock, valued at approximately $396,000.

Other large investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in IonQ during the fourth quarter worth about $26,000. Golden State Wealth Management LLC acquired a new stake in IonQ during the fourth quarter worth about $34,000. City State Bank acquired a new stake in IonQ during the fourth quarter worth about $36,000. Hemington Wealth Management acquired a new stake in IonQ during the fourth quarter worth about $37,000. Finally, Versant Capital Management Inc grew its stake in IonQ by 1,348.5% during the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after buying an additional 890 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Price Performance

NYSE:IONQ opened at $31.25 on Tuesday. The firm’s 50 day simple moving average is $39.68 and its 200 day simple moving average is $24.44. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The company has a market cap of $6.76 billion, a PE ratio of -38.58 and a beta of 2.40.

Insider Buying and Selling

In related news, CEO Peter Hume Chapman sold 13,106 shares of IonQ 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 $389,641.38. Following the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at $12,319,011.99. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ 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 owns 926,114 shares in the company, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,223 shares of company stock worth $1,314,652 in the last ninety days. Company insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

IONQ has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark raised their price target on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC raised 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. Finally, Craig Hallum raised their price target on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.00.

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.