Ramirez Asset Management Inc. Has $73,000 Stock Position in IonQ, Inc. (NYSE:IONQ)

Ramirez Asset Management Inc. decreased its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,750 shares of the company’s stock after selling 1,750 shares during the quarter. Ramirez Asset Management Inc.’s holdings in IonQ were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pathway Financial Advisers LLC bought a new position in IonQ in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after buying an additional 501 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in IonQ during the 4th quarter valued at approximately $34,000. City State Bank bought a new position in IonQ during the 4th quarter worth approximately $36,000. Finally, Sandy Spring Bank boosted its stake in shares of IonQ by 350.0% in the 4th quarter. Sandy Spring Bank now owns 900 shares of the company’s stock valued at $38,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Insider Activity

In related news, CFO Thomas G. Kramer sold 11,712 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the completion of the transaction, the chief financial officer now directly owns 944,510 shares in the company, valued at $17,539,550.70. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Rima Alameddine sold 1,407 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the transaction, the executive now directly owns 592,615 shares of the company’s stock, valued at approximately $12,563,438. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is owned by corporate insiders.

IonQ Trading Down 4.7 %

IonQ stock opened at $23.63 on Friday. The business’s 50 day simple moving average is $31.67 and its 200 day simple moving average is $26.78. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The company has a market cap of $5.26 billion, a price-to-earnings ratio of -29.17 and a beta of 2.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IONQ shares. DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. 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. Benchmark cut their price target on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Craig Hallum boosted their price objective 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $44.80.

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.