Alliancebernstein L.P. Grows Position in IonQ, Inc. (NYSE:IONQ)

Alliancebernstein L.P. raised its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 243,581 shares of the company's stock after purchasing an additional 25,471 shares during the quarter. Alliancebernstein L.P. owned 0.11% of IonQ worth $10,174,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IONQ. PDS Planning Inc boosted its position in shares of IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after acquiring an additional 300 shares during the last quarter. Allworth Financial LP increased its stake in IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after acquiring an additional 363 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of IonQ by 73.2% during the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock worth $47,000 after acquiring an additional 480 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after buying an additional 501 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in IonQ during the fourth quarter worth approximately $26,000. 41.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IONQ has been the topic of several recent analyst reports. DA Davidson raised shares of IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Benchmark reaffirmed a "buy" rating and set a $45.00 target price on shares of IonQ in a research report on Monday, March 31st. The Goldman Sachs Group raised their target price on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $44.80.

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IonQ Price Performance

NYSE IONQ traded up $0.74 on Monday, hitting $26.83. The stock had a trading volume of 4,110,373 shares, compared to its average volume of 15,690,574. The business's fifty day moving average price is $27.29 and its 200 day moving average price is $28.36. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of -32.86 and a beta of 2.50. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 11,712 shares of the firm'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 transaction, the chief financial officer now directly owns 944,510 shares of the company's stock, valued at approximately $17,539,550.70. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Rima Alameddine sold 20,047 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 transaction of $372,272.79. Following the completion of the sale, the executive now owns 572,568 shares in the company, valued at $10,632,587.76. The trade was a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock worth $38,059,593 in the last ninety days. 11.60% of the stock is owned by 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.