Perigon Wealth Management LLC Purchases Shares of 8,674 IonQ, Inc. (NYSE:IONQ)

Perigon Wealth Management LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,674 shares of the company’s stock, valued at approximately $360,000.

Several other institutional investors have also made changes to their positions in IONQ. Charles Schwab Investment Management Inc. grew its position in IonQ by 9.2% in the third 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 during the period. Carnegie Investment Counsel acquired a new stake in shares of IonQ in the 3rd quarter valued at $5,036,000. Yong Rong HK Asset Management Ltd bought a new stake in shares of IonQ in the 3rd quarter worth about $3,749,000. Rockefeller Capital Management L.P. increased its position in shares of IonQ by 34.2% during the 3rd 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in IonQ in the third quarter valued at about $1,631,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at IonQ

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on IONQ shares. Benchmark raised their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. DA Davidson initiated coverage on shares of IonQ in a research report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price objective for the company. Craig Hallum upped their target price 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. Finally, Needham & Company LLC raised their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

IonQ Trading Up 2.0 %

IonQ stock opened at $39.58 on Friday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The company has a fifty day simple moving average of $38.38 and a 200 day simple moving average of $20.88. The company has a market cap of $8.56 billion, a P/E ratio of -48.86 and a beta of 2.43.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The firm had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ’s quarterly revenue was up 102.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) earnings per share. On average, equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

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.