IonQ, Inc. (NYSE:IONQ) Shares Bought by US Bancorp DE

US Bancorp DE grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 219.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,112 shares of the company’s stock after acquiring an additional 3,512 shares during the quarter. US Bancorp DE’s holdings in IonQ were worth $214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of IonQ in the fourth quarter worth about $2,352,000. Oppenheimer & Co. Inc. boosted its position in shares of IonQ by 276.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 159,385 shares of the company’s stock worth $6,658,000 after buying an additional 117,010 shares during the period. Lake Street Advisors Group LLC purchased a new stake in shares of IonQ in the fourth quarter worth about $428,000. Amalgamated Bank boosted its position in shares of IonQ by 19.2% in the fourth quarter. Amalgamated Bank now owns 6,856 shares of the company’s stock worth $286,000 after buying an additional 1,106 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of IonQ by 28.0% in the fourth quarter. Bank of New York Mellon Corp now owns 905,545 shares of the company’s stock worth $37,825,000 after buying an additional 198,129 shares during the period. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Stock Up 17.7 %

Shares of NYSE IONQ opened at $25.16 on Friday. The stock’s 50 day moving average price is $34.02 and its two-hundred day moving average price is $25.73. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The stock has a market capitalization of $5.61 billion, a P/E ratio of -31.06 and a beta of 2.50.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IONQ shares. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Benchmark reduced their price target on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group increased their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Craig Hallum increased their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $44.80.

Insider Buying and Selling at IonQ

In other news, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the sale, the insider now directly owns 414,363 shares in the company, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the sale, the executive now owns 592,615 shares in the company, valued at $12,563,438. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 over the last quarter. 11.60% of the stock is owned by corporate insiders.

About IonQ

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.