Weil Company Inc. Sells 27,299 Shares of IonQ, Inc. (NYSE:IONQ)

Weil Company Inc. trimmed its stake in IonQ, Inc. (NYSE:IONQ) by 75.2% in the 4th quarter, HoldingsChannel reports. The firm owned 9,000 shares of the company’s stock after selling 27,299 shares during the period. Weil Company Inc.’s holdings in IonQ were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of IONQ. Creative Planning increased its holdings in IonQ by 47.8% in the 3rd quarter. Creative Planning now owns 24,364 shares of the company’s stock worth $213,000 after acquiring an additional 7,878 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new position in shares of IonQ in the third quarter worth approximately $3,749,000. Ground Swell Capital LLC purchased a new stake in shares of IonQ in the third quarter worth $110,000. PDS Planning Inc bought a new stake in shares of IonQ during the 3rd quarter valued at $101,000. Finally, Verity Asset Management Inc. lifted its stake in shares of IonQ by 12.4% during the 3rd quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock valued at $296,000 after buying an additional 3,736 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Buying and Selling at IonQ

In other news, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,223 shares of company stock worth $1,314,652 in the last quarter. 11.60% of the stock is owned by corporate insiders.

IonQ Stock Down 4.5 %

Shares of IonQ stock opened at $29.83 on Wednesday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The business has a 50-day moving average price of $39.40 and a 200-day moving average price of $24.59. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of -36.83 and a beta of 2.41.

Analyst Ratings Changes

A number of brokerages have issued reports on IONQ. Needham & Company LLC increased their price target on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark boosted their price target on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum increased their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IonQ presently has an average rating of “Buy” and an average price target of $33.00.

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.