Zurcher Kantonalbank Zurich Cantonalbank Has $1.67 Million Position in IonQ, Inc. (NYSE:IONQ)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 42.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,010 shares of the company's stock after acquiring an additional 11,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in IonQ were worth $1,671,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of IONQ. Charles Schwab Investment Management Inc. grew its position in IonQ by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after buying an additional 135,851 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in IonQ by 34.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company's stock valued at $3,825,000 after buying an additional 111,435 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in IonQ in the 3rd quarter valued at about $1,631,000. Prospera Financial Services Inc grew its position in IonQ by 196.1% in the 3rd 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 in the last quarter. Finally, State Street Corp grew its position in IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company's stock valued at $37,240,000 after buying an additional 75,596 shares in the last quarter. Institutional investors own 41.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IONQ. Benchmark decreased their target price on shares of IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Craig Hallum upped their price target on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a report on Friday, December 20th. DA Davidson raised shares of IonQ to a "strong-buy" rating in a report on Thursday, February 20th. The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Needham & Company LLC reissued 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, IonQ currently has a consensus rating of "Buy" and an average target price of $44.80.

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Insider Buying and Selling at IonQ

In other news, insider Peter Hume Chapman sold 2,000,000 shares of the company's stock in a transaction dated 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 in the company, valued at $7,756,875.36. This represents a 82.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Scannell bought 93,066 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the acquisition, the director now directly owns 135,047 shares in the company, valued at $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is currently owned by corporate insiders.

IonQ Trading Up 5.3 %

IONQ stock traded up $1.12 during mid-day trading on Friday, reaching $22.26. 21,803,396 shares of the stock traded hands, compared to its average volume of 14,566,573. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The company has a market cap of $4.96 billion, a P/E ratio of -27.47 and a beta of 2.50. The stock's fifty day moving average is $32.64 and its 200-day moving average is $26.17.

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.