US Bancorp DE Boosts Stock Position in IonQ, Inc. (NYSE:IONQ)

US Bancorp DE grew its holdings in IonQ, Inc. (NYSE:IONQ) by 219.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in IONQ. Charles Schwab Investment Management Inc. lifted its holdings in IonQ by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after acquiring an additional 135,851 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of IonQ by 34.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock worth $3,825,000 after acquiring an additional 111,435 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of IonQ in the 3rd quarter worth $1,631,000. Prospera Financial Services Inc grew its holdings in shares of IonQ by 196.1% during the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock worth $337,000 after purchasing an additional 25,502 shares during the period. Finally, State Street Corp grew its holdings in shares of IonQ by 1.8% during the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after purchasing an additional 75,596 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

IonQ Stock Performance

IONQ opened at $25.16 on Friday. The business’s fifty day moving average is $34.02 and its two-hundred day moving average is $25.73. The company has a market cap of $5.61 billion, a price-to-earnings ratio of -31.06 and a beta of 2.50. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

Insiders Place Their Bets

In related news, CFO Thomas G. Kramer sold 11,712 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William F. Scannell bought 93,066 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares of the company’s stock, valued at approximately $2,945,375.07. The trade was a 221.69 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is owned by corporate insiders.

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.