TD Waterhouse Canada Inc. Acquires New Position in IonQ, Inc. (NYSE:IONQ)

TD Waterhouse Canada Inc. bought a new position in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 802 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors have also recently made changes to their positions in IONQ. Pathway Financial Advisers LLC bought a new position in IonQ in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its position in 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 acquiring an additional 501 shares in the last quarter. Golden State Wealth Management LLC bought a new position in IonQ in the 4th quarter valued at approximately $34,000. City State Bank bought a new position in IonQ in the 4th quarter valued at approximately $36,000. Finally, Sandy Spring Bank lifted its position in 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 acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Down 0.7 %

NYSE:IONQ opened at $28.69 on Tuesday. The business’s 50-day simple moving average is $24.62 and its two-hundred day simple moving average is $29.66. The stock has a market cap of $6.39 billion, a PE ratio of -35.42 and a beta of 2.50. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. DA Davidson lowered their price objective on IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Benchmark decreased their target price on shares of IonQ from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group boosted their target price 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 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

Insider Buying and Selling

In other news, Director William F. Scannell bought 93,066 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the acquisition, the director now owns 135,047 shares of the company’s stock, valued at $2,945,375.07. This represents a 221.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Rima Alameddine sold 20,047 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the sale, the executive now owns 572,568 shares of the company’s stock, valued at $10,632,587.76. This represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,033,166 shares of company stock worth $38,059,593. Corporate insiders own 11.60% of the company’s stock.

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.