IonQ, Inc. (NYSE:IONQ) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 905,545 shares of the company's stock after buying an additional 198,129 shares during the quarter. Bank of New York Mellon Corp owned about 0.42% of IonQ worth $37,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP increased its holdings 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 buying an additional 363 shares during the period. GAMMA Investing LLC grew its stake 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 purchasing an additional 480 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ during the 4th quarter worth approximately $26,000. Spire Wealth Management grew its stake in shares of IonQ by 406.3% during the 4th quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $40,000 after purchasing an additional 772 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of IonQ during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Buying and Selling at IonQ

In other news, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares in the company, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,223 shares of company stock worth $1,314,652. Corporate insiders own 11.60% of the company's stock.

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IonQ Trading Up 1.0 %

IONQ stock traded up $0.21 during midday trading on Friday, reaching $20.69. The stock had a trading volume of 16,153,522 shares, compared to its average volume of 13,921,091. The company's fifty day simple moving average is $36.29 and its 200 day simple moving average is $25.39. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -25.55 and a beta of 2.50. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

Analyst Ratings Changes

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

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.