IonQ, Inc. $IONQ Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of IonQ, Inc. (NYSE:IONQ) by 18.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,354,706 shares of the company’s stock after purchasing an additional 4,587,260 shares during the quarter. Vanguard Group Inc. owned about 8.45% of IonQ worth $1,805,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in IonQ by 12.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company’s stock worth $184,992,000 after buying an additional 333,653 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of IonQ by 20.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 93,230 shares of the company’s stock valued at $5,734,000 after acquiring an additional 16,018 shares during the period. Cookson Peirce & Co. Inc. grew its position in shares of IonQ by 14.9% during the third quarter. Cookson Peirce & Co. Inc. now owns 117,717 shares of the company’s stock worth $7,240,000 after acquiring an additional 15,251 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of IonQ by 233.5% in the 3rd quarter. Ameritas Advisory Services LLC now owns 3,605 shares of the company’s stock worth $222,000 after acquiring an additional 2,524 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in IonQ in the 3rd quarter valued at about $190,000. Institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

IONQ has been the subject of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of IonQ in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of IonQ in a research report on Tuesday, January 27th. Finally, Wedbush began coverage on IonQ in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price target for the company. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.91.

Insider Activity

In related news, Director Kathryn K. Chou sold 20,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the completion of the sale, the director directly owned 60,839 shares of the company’s stock, valued at $3,127,124.60. This represents a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by corporate insiders.

IonQ Stock Down 1.8%

NYSE:IONQ opened at $32.73 on Friday. The business’s 50-day moving average price is $44.18 and its 200 day moving average price is $50.58. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The firm has a market cap of $11.37 billion, a P/E ratio of -6.12 and a beta of 2.63.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.