IonQ, Inc. (NYSE:IONQ) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN raised its position in IonQ, Inc. (NYSE:IONQ) by 43.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,061 shares of the company’s stock after acquiring an additional 77,151 shares during the quarter. Wells Fargo & Company MN owned approximately 0.12% of IonQ worth $10,654,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in IonQ by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company’s stock worth $892,797,000 after purchasing an additional 125,144 shares in the last quarter. Geode Capital Management LLC grew its position in IonQ by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock worth $186,593,000 after purchasing an additional 45,942 shares during the last quarter. State Street Corp boosted its stake in IonQ by 1.8% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of IonQ by 1,310.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock valued at $103,095,000 after purchasing an additional 2,293,231 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in IonQ by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after purchasing an additional 31,638 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Trading Down 3.3 %

Shares of NYSE IONQ opened at $24.56 on Thursday. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The company has a market cap of $5.47 billion, a price-to-earnings ratio of -30.32 and a beta of 2.50. The stock has a 50-day moving average price of $26.31 and a two-hundred day moving average price of $28.42.

Analyst Ratings Changes

Several brokerages recently weighed in on IONQ. Needham & Company LLC restated a “buy” rating and set a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $45.00 price target on shares of IonQ in a research report on Monday, March 31st. DA Davidson lowered their price objective on shares of IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Monday. Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, The Goldman Sachs Group lifted their target price on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.80.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 20,047 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $372,272.79. Following the completion of the sale, the executive now owns 572,568 shares in the company, valued at approximately $10,632,587.76. This represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 944,510 shares in the company, valued at approximately $17,539,550.70. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock worth $38,059,593 in the last ninety days. Company insiders own 11.60% of the company’s stock.

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.