Vanguard Group Inc. Purchases 5,420,037 Shares of IonQ, Inc. $IONQ

Vanguard Group Inc. boosted its position in IonQ, Inc. (NYSE:IONQ) by 18.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,774,743 shares of the company’s stock after buying an additional 5,420,037 shares during the period. Vanguard Group Inc. owned approximately 0.10% of IonQ worth $1,560,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC increased its position in IonQ by 700.0% in the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after buying an additional 350 shares in the last quarter. Ameriflex Group Inc. increased its position in IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after buying an additional 340 shares in the last quarter. Financial Consulate Inc. bought a new stake in IonQ in the 3rd quarter valued at about $29,000. UMB Bank n.a. bought a new stake in IonQ in the 3rd quarter valued at about $31,000. Finally, Beaird Harris Wealth Management LLC increased its position in IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen raised IonQ from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Benchmark decreased their target price on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of IonQ in a report on Tuesday, April 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Finally, Northland Securities started coverage on IonQ in a report on Monday, April 20th. They set an “outperform” rating and a $55.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.25.

IonQ Stock Performance

Shares of IONQ opened at $45.15 on Friday. The stock has a 50 day moving average price of $35.35 and a two-hundred day moving average price of $44.45. The firm has a market capitalization of $16.55 billion, a P/E ratio of -18.13 and a beta of 2.80. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64.

Insiders Place Their Bets

In other news, insider Robert T. Cardillo sold 5,165 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total value of $203,707.60. Following the completion of the transaction, the insider directly owned 112,291 shares of the company’s stock, valued at $4,428,757.04. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William J. Teuber, Jr. bought 3,000 shares of IonQ stock in a transaction dated Friday, February 27th. The stock was acquired at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the acquisition, the director owned 9,413 shares of the company’s stock, valued at $361,270.94. This represents a 46.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 8,581 shares of company stock valued at $316,156. Corporate insiders own 5.20% 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. 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.