KLP Kapitalforvaltning AS Buys New Shares in IonQ, Inc. (NYSE:IONQ)

KLP Kapitalforvaltning AS purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 38,700 shares of the company’s stock, valued at approximately $1,616,000.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in IonQ in the third quarter worth approximately $381,000. Charles Schwab Investment Management Inc. increased its stake 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 valued at $14,107,000 after acquiring an additional 135,851 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of IonQ by 15.6% during the 3rd quarter. D.A. Davidson & CO. now owns 94,568 shares of the company’s stock valued at $827,000 after acquiring an additional 12,788 shares during the period. FMR LLC boosted its stake in IonQ by 7.2% during the third quarter. FMR LLC now owns 612,625 shares of the company’s stock worth $5,354,000 after acquiring an additional 41,125 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in IonQ by 34.2% in the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock worth $3,825,000 after purchasing an additional 111,435 shares during the period. 41.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other IonQ news, Director William F. Scannell acquired 93,066 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares in the company, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Peter Hume Chapman sold 2,000,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the sale, the insider now directly owns 414,363 shares of the company’s stock, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 in the last three months. 11.60% of the stock is currently owned by insiders.

IonQ Stock Down 3.1 %

Shares of NYSE:IONQ opened at $22.92 on Friday. The business’s 50 day moving average is $31.35 and its 200 day moving average is $26.89. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -28.30 and a beta of 2.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Craig Hallum increased their price objective 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. Benchmark cut their price target on IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. DA Davidson upgraded IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. Finally, The Goldman Sachs Group boosted their price target 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. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $44.80.

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.