Swiss National Bank Boosts Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Swiss National Bank raised its holdings in IonQ, Inc. (NYSE:IONQ) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 378,900 shares of the company’s stock after purchasing an additional 7,500 shares during the quarter. Swiss National Bank owned 0.18% of IonQ worth $15,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IONQ. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after acquiring an additional 501 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of IonQ during the 4th quarter worth $34,000. City State Bank acquired a new position in shares of IonQ during the 4th quarter worth $36,000. Finally, Hemington Wealth Management purchased a new position in shares of IonQ in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IONQ shares. Needham & Company LLC reissued a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. Benchmark decreased their price objective on shares of 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 upgraded shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $44.80.

Insiders Place Their Bets

In other news, CRO Rima Alameddine sold 20,047 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $372,272.79. Following the transaction, the executive now directly owns 572,568 shares in the company, valued at $10,632,587.76. This represents a 3.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the business’s stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,033,166 shares of company stock valued at $38,059,593. Company insiders own 11.60% of the company’s stock.

IonQ Price Performance

NYSE:IONQ opened at $23.26 on Thursday. The firm has a market cap of $5.18 billion, a PE ratio of -28.71 and a beta of 2.50. The firm has a 50 day simple moving average of $32.82 and a 200-day simple moving average of $26.21. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.

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.