Connor Clark & Lunn Investment Management Ltd. purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 460,676 shares of the company's stock, valued at approximately $19,242,000. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of IonQ at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock worth $14,107,000 after acquiring an additional 135,851 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of IonQ by 34.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock worth $3,825,000 after purchasing an additional 111,435 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of IonQ during the 3rd quarter worth about $1,631,000. Prospera Financial Services Inc lifted its position in IonQ by 196.1% in the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock valued at $337,000 after buying an additional 25,502 shares during the last quarter. Finally, State Street Corp boosted its stake in IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company's stock worth $37,240,000 after buying an additional 75,596 shares during the period. Institutional investors and hedge funds own 41.42% of the company's stock.
Analysts Set New Price Targets
IONQ has been the topic of several recent analyst reports. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, December 20th. The Goldman Sachs Group upped their price target on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Benchmark dropped their price objective on IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $54.00 target price on shares of IonQ in a research note on Thursday, February 27th. Finally, DA Davidson raised IonQ to a "strong-buy" rating in a research report on Thursday, February 20th. One 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. According to data from MarketBeat, IonQ presently has an average rating of "Buy" and an average target price of $44.80.
Get Our Latest Research Report on IonQ
IonQ Trading Down 0.6 %
NYSE:IONQ traded down $0.16 during midday trading on Monday, reaching $24.84. The company had a trading volume of 30,486,328 shares, compared to its average volume of 14,341,991. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of -30.67 and a beta of 2.50. The stock's fifty day simple moving average is $34.02 and its 200-day simple moving average is $26.00.
Insider Activity
In other news, CFO Thomas G. Kramer sold 11,712 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the sale, the chief financial officer now directly owns 944,510 shares in the company, valued at approximately $17,539,550.70. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares in the company, 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. In the last quarter, insiders sold 2,033,166 shares of company stock worth $38,059,593. 11.60% of the stock is currently owned by company insiders.
IonQ Company Profile
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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.
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