IFP Advisors Inc Has $203,000 Stock Position in IonQ, Inc. $IONQ

IFP Advisors Inc reduced its position in IonQ, Inc. (NYSE:IONQ) by 89.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,308 shares of the company’s stock after selling 28,654 shares during the quarter. IFP Advisors Inc’s holdings in IonQ were worth $203,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Stone House Investment Management LLC lifted its position in shares of IonQ by 700.0% in the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after acquiring an additional 350 shares in the last quarter. Ameriflex Group Inc. boosted its stake in IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares during the period. Hilltop National Bank grew its position in IonQ by 112.5% during the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 225 shares in the last quarter. Financial Consulate Inc. purchased a new position in IonQ during the 3rd quarter worth approximately $29,000. Finally, UMB Bank n.a. acquired a new stake in IonQ during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Buying and Selling

In other IonQ news, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the transaction, the insider directly owned 83,963 shares of the company’s stock, valued at $2,799,326.42. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William J. Teuber, Jr. purchased 3,000 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were purchased at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the purchase, the director directly owned 9,413 shares in the company, valued at approximately $361,270.94. This represents a 46.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,581 shares of company stock worth $316,156. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on IONQ shares. Needham & Company LLC decreased their target price on IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Morgan Stanley set a $37.00 price target on IonQ in a research report on Thursday, February 26th. Wall Street Zen raised IonQ from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. Finally, DA Davidson dropped their target price on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.45.

IonQ Stock Down 7.8%

Shares of NYSE:IONQ opened at $27.51 on Friday. The firm has a fifty day moving average of $36.52 and a two-hundred day moving average of $49.33. IonQ, Inc. has a 12-month low of $18.81 and a 12-month high of $84.64. The firm has a market capitalization of $10.09 billion, a P/E ratio of -11.05 and a beta of 2.61.

IonQ 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.