Neuberger Berman Group LLC Invests $6.18 Million in IonQ, Inc. (NYSE:IONQ)

Neuberger Berman Group LLC acquired a new position in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 147,958 shares of the company’s stock, valued at approximately $6,180,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IONQ. FMR LLC boosted its holdings in IonQ by 7.2% in the 3rd quarter. FMR LLC now owns 612,625 shares of the company’s stock valued at $5,354,000 after purchasing an additional 41,125 shares during the period. HighTower Advisors LLC raised its position in shares of IonQ by 29.3% during the third quarter. HighTower Advisors LLC now owns 18,938 shares of the company’s stock valued at $166,000 after buying an additional 4,288 shares during the last quarter. State Street Corp raised its position in shares of IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after buying an additional 75,596 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of IonQ by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock valued at $38,640,000 after buying an additional 199,360 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new stake in IonQ during the third quarter worth about $91,000. Institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

Shares of IONQ stock opened at $26.04 on Friday. The stock’s fifty day simple moving average is $27.29 and its 200 day simple moving average is $28.22. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of -32.14 and a beta of 2.50.

Insider Buying and Selling at IonQ

In other IonQ news, Director William F. Scannell acquired 93,066 shares of IonQ stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the purchase, the director now owns 135,047 shares in the company, valued at $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the sale, the chief financial officer now owns 944,510 shares in the company, valued at $17,539,550.70. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on IONQ. The Goldman Sachs Group upped their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $45.00 price objective on shares of IonQ in a research note on Monday, March 31st. Finally, Craig Hallum raised their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One 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 data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $44.80.

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.