Rowlandmiller & PARTNERS.ADV Makes New $132,000 Investment in IonQ, Inc. (NYSE:IONQ)

Rowlandmiller & PARTNERS.ADV acquired a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,150 shares of the company’s stock, valued at approximately $132,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in IonQ by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after purchasing an additional 199,360 shares in the last quarter. State Street Corp raised its holdings in IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after purchasing an additional 75,596 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of IonQ by 9.2% in 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. Chevy Chase Trust Holdings LLC purchased a new stake in shares of IonQ in the 4th quarter worth about $32,060,000. Finally, FMR LLC grew its position in shares of IonQ by 7.2% in the 3rd quarter. FMR LLC now owns 612,625 shares of the company’s stock worth $5,354,000 after buying an additional 41,125 shares during the period. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Performance

Shares of IONQ stock opened at $31.74 on Monday. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The company’s 50-day moving average is $39.89 and its 200 day moving average is $24.27. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of -39.18 and a beta of 2.40.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price 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. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research report on Thursday. Craig Hallum upped their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Benchmark upped their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $33.00.

Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were 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 of the company’s stock, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction dated 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 approximately $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,223 shares of company stock valued at $1,314,652. 11.60% of the stock is owned by insiders.

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.