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

StoneX Group Inc. grew its stake in shares of IonQ, Inc. (NYSE:IONQ) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,621 shares of the company’s stock after purchasing an additional 2,390 shares during the quarter. StoneX Group Inc.’s holdings in IonQ were worth $2,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IONQ. Pathway Financial Advisers LLC bought a new stake in shares of IonQ in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its stake in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after buying an additional 501 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in IonQ during the 4th quarter valued at $34,000. City State Bank purchased a new position in shares of IonQ during the fourth quarter valued at approximately $36,000. Finally, Hemington Wealth Management purchased a new position in IonQ in the 4th quarter worth about $37,000. 41.42% of the stock is owned by institutional investors.

IonQ Trading Down 3.1 %

NYSE:IONQ opened at $22.13 on Tuesday. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The company’s 50-day moving average is $31.01 and its two-hundred day moving average is $27.27. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of -27.32 and a beta of 2.50.

Analysts Set New Price Targets

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

Insider Buying and Selling at IonQ

In other IonQ news, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction 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 of the company’s stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Scannell bought 93,066 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares in the company, valued at $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. 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. Company insiders own 11.60% of the company’s stock.

About IonQ

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.