Wells Fargo & Company MN Has $10.65 Million Stock Position in IonQ, Inc. (NYSE:IONQ)

Wells Fargo & Company MN increased its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 255,061 shares of the company's stock after purchasing an additional 77,151 shares during the quarter. Wells Fargo & Company MN owned approximately 0.12% of IonQ worth $10,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 501 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in IonQ during the 4th quarter worth approximately $34,000. City State Bank bought a new position in IonQ in the 4th quarter valued at $36,000. Finally, Hemington Wealth Management bought a new stake in shares of IonQ during the fourth quarter worth $37,000. Institutional investors own 41.42% of the company's stock.

Insider Activity

In related news, CFO Thomas G. Kramer sold 11,712 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $217,491.84. Following the sale, the chief financial officer now owns 944,510 shares in the company, valued at approximately $17,539,550.70. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of 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 have sold a total of 2,033,166 shares of company stock worth $38,059,593 over the last three months. Corporate insiders own 11.60% of the company's stock.

IonQ Price Performance

IONQ traded up $1.24 during trading on Friday, reaching $25.81. The company had a trading volume of 10,111,365 shares, compared to its average volume of 15,798,218. The company has a market cap of $5.75 billion, a P/E ratio of -31.87 and a beta of 2.50. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The business's fifty day moving average price is $26.00 and its 200 day moving average price is $28.54.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IONQ shares. The Goldman Sachs Group raised their price objective 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. Needham & Company LLC reiterated a "buy" rating and set a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. Benchmark reissued a "buy" rating and set a $45.00 price objective on shares of IonQ in a research note on Monday, March 31st. Craig Hallum upped their target price on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Finally, DA Davidson reduced their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.80.

IonQ 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.