Vanguard Group Inc. Has $892.80 Million Stake in IonQ, Inc. (NYSE:IONQ)

Vanguard Group Inc. increased its stake in shares of IonQ, Inc. (NYSE:IONQ) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,374,125 shares of the company’s stock after purchasing an additional 125,144 shares during the quarter. Vanguard Group Inc. owned approximately 0.10% of IonQ worth $892,797,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IONQ. Charles Schwab Investment Management Inc. lifted its position in IonQ by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after buying an additional 135,851 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of IonQ by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock worth $3,825,000 after acquiring an additional 111,435 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of IonQ during the third quarter worth $1,631,000. State Street Corp boosted its position in 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 purchasing an additional 75,596 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in IonQ in the fourth quarter valued at about $3,840,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 1,407 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the completion of the transaction, the executive now owns 592,615 shares of the company’s stock, valued at approximately $12,563,438. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the sale, the insider now owns 414,363 shares of the company’s stock, valued at approximately $7,756,875.36. The trade was a 82.84 % 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 worth $38,059,593. 11.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IONQ. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Craig Hallum raised their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group lifted 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 dropped their price target on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $44.80.

IonQ Stock Down 3.1 %

Shares of IonQ stock opened at $22.92 on Friday. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a 50 day moving average price of $31.35 and a two-hundred day moving average price of $26.89. The stock has a market capitalization of $5.11 billion, a P/E ratio of -28.30 and a beta of 2.50.

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.