IonQ, Inc. (NYSE:IONQ) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its holdings in IonQ, Inc. (NYSE:IONQ) by 439.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 857,078 shares of the company’s stock after buying an additional 698,146 shares during the period. Invesco Ltd. owned about 0.40% of IonQ worth $35,800,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in shares of IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after acquiring an additional 75,596 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in IonQ in the fourth quarter valued at approximately $3,840,000. Strategic Advocates LLC acquired a new stake in IonQ during the fourth quarter worth approximately $863,000. Geode Capital Management LLC raised its holdings in IonQ by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after purchasing an additional 199,360 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of IonQ by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 61,481 shares of the company’s stock worth $2,568,000 after buying an additional 8,800 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William F. Scannell purchased 93,066 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the acquisition, the director now directly owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas G. Kramer sold 11,712 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $217,491.84. Following the completion of the sale, the chief financial officer now owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. Company insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

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

IonQ Stock Down 3.3 %

IONQ opened at $24.56 on Thursday. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The business has a 50 day moving average price of $26.31 and a two-hundred day moving average price of $28.42. The company has a market cap of $5.47 billion, a PE ratio of -30.32 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.