Swedbank AB Makes New Investment in IonQ, Inc. $IONQ

Swedbank AB acquired a new position in IonQ, Inc. (NYSE:IONQFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 60,355 shares of the company’s stock, valued at approximately $2,708,000.

A number of other institutional investors have also added to or reduced their stakes in IONQ. Vanguard Group Inc. grew its position in IonQ by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock worth $1,560,343,000 after purchasing an additional 5,420,037 shares in the last quarter. Lansdowne Partners UK LLP grew its position in IonQ by 286.1% in the 3rd quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company’s stock worth $119,127,000 after purchasing an additional 1,435,394 shares in the last quarter. State Street Corp grew its position in IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock worth $387,423,000 after purchasing an additional 1,043,878 shares in the last quarter. Clear Street Group Inc. bought a new stake in IonQ in the 3rd quarter worth about $61,488,000. Finally, Ameriprise Financial Inc. grew its position in IonQ by 262.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after purchasing an additional 930,490 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Trending Headlines about IonQ

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Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Benchmark reduced their price objective on shares of IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. DA Davidson reduced their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. increased their target price on shares of IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of IonQ in a research report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.63.

Get Our Latest Report on IONQ

Insider Activity

In related news, insider John W. Raymond sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the transaction, the insider directly owned 83,963 shares of the company’s stock, valued at approximately $2,799,326.42. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert T. Cardillo sold 5,165 shares of the firm’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 transaction of $203,707.60. Following the completion of the transaction, the insider directly owned 112,291 shares of the company’s stock, valued at approximately $4,428,757.04. This trade represents a 4.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,354 shares of company stock valued at $504,428 in the last three months. Company insiders own 5.20% of the company’s stock.

IonQ Stock Up 0.2%

IonQ stock opened at $49.36 on Monday. IonQ, Inc. has a twelve month low of $25.89 and a twelve month high of $84.64. The firm has a 50 day moving average price of $36.42 and a 200-day moving average price of $43.57. The company has a market capitalization of $18.10 billion, a P/E ratio of -176.28 and a beta of 3.05.

About IonQ

(Free Report)

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.

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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