8,674 Shares in IonQ, Inc. (NYSE:IONQ) Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC purchased a new stake in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, HoldingsChannel reports. The fund purchased 8,674 shares of the company’s stock, valued at approximately $360,000.

Several other institutional investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of IonQ by 16.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 115,782 shares of the company’s stock worth $814,000 after purchasing an additional 16,642 shares in the last quarter. Algert Global LLC acquired a new position in shares of IonQ during the second quarter valued at about $126,000. Handelsbanken Fonder AB increased its position in shares of IonQ by 33.1% during the third quarter. Handelsbanken Fonder AB now owns 69,200 shares of the company’s stock worth $605,000 after acquiring an additional 17,200 shares in the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of IonQ in the 3rd quarter worth about $266,000. Finally, Carnegie Investment Counsel bought a new position in IonQ in the 3rd quarter valued at about $5,036,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction dated 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 transaction, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 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 transaction of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,223 shares of company stock worth $1,314,652. Company insiders own 11.60% of the company’s stock.

IonQ Trading Up 2.0 %

IONQ opened at $39.58 on Friday. The stock has a market capitalization of $8.56 billion, a P/E ratio of -48.86 and a beta of 2.43. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a 50-day moving average price of $38.38 and a 200-day moving average price of $20.88.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IONQ shares. Benchmark raised their price objective on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Needham & Company LLC increased their price objective on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Craig Hallum increased their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

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.