Cookson Peirce & Co. Inc. Takes $2.21 Million Position in IonQ, Inc. (NYSE:IONQ)

Cookson Peirce & Co. Inc. bought a new stake in IonQ, Inc. (NYSE:IONQ) during the fourth quarter, Holdings Channel.com reports. The fund bought 52,924 shares of the company’s stock, valued at approximately $2,211,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chevy Chase Trust Holdings LLC acquired a new position in IonQ in the fourth quarter valued at $32,060,000. Capital Advisors Inc. OK purchased a new stake in shares of IonQ in the 4th quarter valued at about $18,976,000. UNICOM Systems Inc. acquired a new stake in shares of IonQ in the 4th quarter valued at about $18,106,000. Main Management ETF Advisors LLC purchased a new position in IonQ during the 3rd quarter worth approximately $1,865,000. Finally, Geode Capital Management LLC increased its position in IonQ by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after buying an additional 199,360 shares during the period. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IONQ has been the subject of several research analyst reports. Benchmark decreased their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group lifted 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. Finally, Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $44.80.

IonQ Stock Performance

Shares of IONQ opened at $22.33 on Wednesday. The stock has a market capitalization of $4.83 billion, a P/E ratio of -27.57 and a beta of 2.40. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The company’s fifty day moving average is $37.78 and its two-hundred day moving average is $25.22.

Insider Activity

In other news, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the transaction, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Rima Alameddine sold 21,337 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares of the company’s stock, valued at $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,223 shares of company stock valued at $1,314,652 over the last quarter. Corporate insiders own 11.60% of the company’s stock.

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.