IonQ, Inc. (NYSE:IONQ) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in IonQ, Inc. (NYSE:IONQ) by 42.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,010 shares of the company’s stock after purchasing an additional 11,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IonQ were worth $1,671,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock valued at $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC raised its position in shares of IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after purchasing an additional 501 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ during the 4th quarter valued at approximately $26,000. Finally, Spire Wealth Management raised its position in shares of IonQ by 406.3% during the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after acquiring an additional 772 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Thomas G. Kramer sold 11,712 shares of the 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 owns 944,510 shares of the company’s stock, 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 this link. Also, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction 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 completion of the transaction, the executive now directly owns 592,615 shares of the company’s stock, valued at approximately $12,563,438. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last three months. Company insiders own 11.60% of the company’s stock.

Wall Street Analyst Weigh In

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

IonQ Price Performance

Shares of NYSE IONQ opened at $24.84 on Tuesday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The business’s fifty day moving average price is $33.50 and its two-hundred day moving average price is $26.12. The firm has a market capitalization of $5.54 billion, a PE ratio of -30.67 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.