Sandy Spring Bank Has $38,000 Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Sandy Spring Bank increased its position in shares of IonQ, Inc. (NYSE:IONQ) by 350.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 900 shares of the company’s stock after acquiring an additional 700 shares during the period. Sandy Spring Bank’s holdings in IonQ were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after acquiring an additional 135,851 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in IonQ by 34.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after purchasing an additional 111,435 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in IonQ in the 3rd quarter valued at approximately $1,631,000. Prospera Financial Services Inc lifted its stake in IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after purchasing an additional 25,502 shares during the last quarter. Finally, State Street Corp lifted its stake in IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after purchasing an additional 75,596 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 20,047 shares of IonQ stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $372,272.79. Following the completion of the transaction, the executive now owns 572,568 shares of the company’s stock, valued at $10,632,587.76. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the transaction, the insider now directly owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This represents a 82.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,033,166 shares of company stock valued at $38,059,593 over the last quarter. Insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on IONQ shares. The Goldman Sachs Group increased their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Craig Hallum increased their price objective 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. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark dropped their price target on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. 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. Based on data from MarketBeat, IonQ has an average rating of “Buy” and an average price target of $44.80.

IonQ Stock Performance

IONQ stock opened at $22.26 on Friday. The company has a fifty day moving average price of $32.43 and a 200-day moving average price of $26.41. The company has a market capitalization of $4.96 billion, a P/E ratio of -27.47 and a beta of 2.50. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

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.