SPX Gestao de Recursos Ltda Makes New Investment in IonQ, Inc. $IONQ

SPX Gestao de Recursos Ltda acquired a new stake in IonQ, Inc. (NYSE:IONQ) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 30,000 shares of the company’s stock, valued at approximately $1,845,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of IonQ by 18.5% in the third quarter. Vanguard Group Inc. now owns 29,354,706 shares of the company’s stock worth $1,805,314,000 after buying an additional 4,587,260 shares during the period. Norges Bank bought a new position in shares of IonQ during the second quarter valued at about $114,767,000. JPMorgan Chase & Co. raised its stake in shares of IonQ by 648.5% during the second quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock valued at $114,917,000 after acquiring an additional 2,317,058 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of IonQ by 262.8% during the second quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after purchasing an additional 930,490 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of IonQ by 15.2% during the second quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock worth $229,422,000 after purchasing an additional 705,301 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Activity

In related news, insider Robert T. Cardillo sold 5,165 shares of IonQ stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total transaction of $203,707.60. Following the sale, the insider directly owned 112,291 shares in the company, valued at $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Teuber, Jr. purchased 3,000 shares of IonQ stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the purchase, the director owned 9,413 shares of the company’s stock, valued at $361,270.94. This trade represents a 46.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 30,781 shares of company stock worth $1,525,804 in the last quarter. 5.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $100.00 price target on shares of IonQ in a report on Thursday, February 26th. Wedbush began coverage on IonQ in a report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. JPMorgan Chase & Co. dropped their price target on IonQ from $47.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Finally, Benchmark cut their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.45.

IonQ Stock Performance

IONQ stock opened at $35.69 on Friday. IonQ, Inc. has a fifty-two week low of $17.88 and a fifty-two week high of $84.64. The business’s 50 day moving average price is $41.25 and its two-hundred day moving average price is $50.13. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of -14.33 and a beta of 2.61.

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. 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.