IonQ, Inc. (NYSE:IONQ) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its position in IonQ, Inc. (NYSE:IONQ) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,374,125 shares of the company’s stock after acquiring an additional 125,144 shares during the period. Vanguard Group Inc. owned approximately 9.88% of IonQ worth $892,797,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of IONQ. Geode Capital Management LLC grew its position in IonQ by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after purchasing an additional 199,360 shares during the last quarter. State Street Corp grew its holdings in IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after buying an additional 75,596 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in IonQ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after acquiring an additional 31,638 shares during the period. Bank of New York Mellon Corp raised its stake in IonQ by 28.0% during the 4th quarter. Bank of New York Mellon Corp now owns 905,545 shares of the company’s stock valued at $37,825,000 after acquiring an additional 198,129 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC acquired a new position in IonQ during the 4th quarter worth $32,060,000. 41.42% of the stock is currently owned by institutional investors.

Insider Transactions at IonQ

In other news, Director William F. Scannell acquired 93,066 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the transaction, the director now owns 135,047 shares in the company, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total transaction of $29,828.40. Following the sale, the executive now directly owns 592,615 shares in the company, valued at approximately $12,563,438. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last three months. Company insiders own 11.60% of the company’s stock.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $22.92 on Friday. The company has a market capitalization of $5.11 billion, a PE ratio of -28.30 and a beta of 2.50. The stock has a fifty day moving average of $31.35 and a 200-day moving average of $26.89. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group raised 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. Benchmark reduced their price target on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $44.80.

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.