Caprock Group LLC Purchases New Holdings in IonQ, Inc. $IONQ

Caprock Group LLC acquired a new position in IonQ, Inc. (NYSE:IONQ) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 71,683 shares of the company’s stock, valued at approximately $4,409,000.

Several other large investors also recently added to or reduced their stakes in the company. Amazon Com Inc. bought a new position in shares of IonQ during the 2nd quarter valued at $36,705,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in IonQ during the third quarter worth $806,000. Norges Bank acquired a new position in IonQ during the second quarter worth $114,767,000. Y Intercept Hong Kong Ltd bought a new position in IonQ during the second quarter valued at about $6,104,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in IonQ by 56.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,545 shares of the company’s stock valued at $2,924,000 after buying an additional 17,215 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at IonQ

In related news, Director Kathryn K. Chou sold 5,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director directly owned 60,839 shares in the company, valued at $3,346,145. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Rima Alameddine sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the transaction, the executive directly owned 432,616 shares of the company’s stock, valued at approximately $20,285,364.24. This trade represents a 18.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 125,000 shares of company stock worth $5,992,000. 5.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on IonQ in a research note on Thursday, November 20th. They set a “neutral” rating and a $47.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. DA Davidson increased their price target on IonQ from $35.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price target on shares of IonQ in a research report on Friday, February 6th. Finally, Jefferies Financial Group began coverage on shares of IonQ in a research note on Tuesday, December 16th. They issued a “buy” rating and a $100.00 price objective for the company. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.91.

IonQ Price Performance

NYSE IONQ opened at $33.64 on Thursday. The company’s fifty day moving average is $46.59 and its two-hundred day moving average is $50.94. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of -6.29 and a beta of 2.63.

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. 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.