860 Shares in IonQ, Inc. (NYSE:IONQ) Acquired by City State Bank

City State Bank bought a new stake in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 860 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of IonQ by 40.6% in the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock worth $188,000 after buying an additional 7,744 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of IonQ by 13.5% in the second quarter. Rhumbline Advisers now owns 295,918 shares of the company’s stock worth $2,080,000 after buying an additional 35,158 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of IonQ by 3.6% in the second quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock worth $348,000 after buying an additional 1,731 shares during the last quarter. Quest Partners LLC lifted its stake in shares of IonQ by 4,824.2% in the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after buying an additional 6,368 shares during the last quarter. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of IonQ in the second quarter worth $67,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

IonQ Price Performance

Shares of IonQ stock opened at $27.85 on Tuesday. The firm has a market capitalization of $6.03 billion, a PE ratio of -34.38 and a beta of 2.49. The company’s fifty day moving average price is $34.39 and its two-hundred day moving average price is $17.93. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

IonQ (NYSE:IONQ) last announced 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). The business 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%. The company’s quarterly revenue was up 102.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.22) EPS. Analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Thomas G. Kramer sold 9,780 shares of the business’s 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 sale, the chief financial officer now owns 926,114 shares in the company, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Rima Alameddine sold 9,875 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $11.72, for a total transaction of $115,735.00. Following the completion of the sale, the executive now owns 638,908 shares in the company, valued at $7,488,001.76. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,348 shares of company stock worth $2,181,123. Corporate insiders own 11.60% of the company’s stock.

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.