Charles Schwab Investment Management Inc. Purchases 31,638 Shares of IonQ, Inc. (NYSE:IONQ)

Charles Schwab Investment Management Inc. boosted its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,645,672 shares of the company's stock after buying an additional 31,638 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.76% of IonQ worth $68,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of IONQ. LMR Partners LLP bought a new position in shares of IonQ during the third quarter valued at approximately $874,000. Prospera Financial Services Inc raised its stake in shares of IonQ by 196.1% in the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock worth $337,000 after buying an additional 25,502 shares during the period. Moors & Cabot Inc. bought a new position in shares of IonQ in the third quarter worth about $92,000. Intech Investment Management LLC bought a new stake in IonQ during the 3rd quarter valued at approximately $381,000. Finally, D.A. Davidson & CO. raised its stake in IonQ by 15.6% during the 3rd quarter. D.A. Davidson & CO. now owns 94,568 shares of the company's stock valued at $827,000 after purchasing an additional 12,788 shares during the period. Institutional investors own 41.42% of the company's stock.

Analysts Set New Price Targets

IONQ has been the subject of a number of recent research reports. Benchmark dropped their target price on IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $54.00 price target on shares of IonQ 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 boosted their price target 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 upped their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $44.80.

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Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $12,563,438. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Hume Chapman sold 2,000,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now owns 414,363 shares of the company's stock, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.60% of the company's stock.

IonQ Price Performance

Shares of IonQ stock opened at $18.68 on Wednesday. The business has a 50 day simple moving average of $35.31 and a two-hundred day simple moving average of $25.67. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock has a market capitalization of $4.16 billion, a P/E ratio of -23.06 and a beta of 2.50.

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.

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