IonQ, Inc. (NYSE:IONQ) Shares Purchased by Invesco Ltd.

Invesco Ltd. increased its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 439.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 857,078 shares of the company's stock after acquiring an additional 698,146 shares during the period. Invesco Ltd. owned approximately 0.40% of IonQ worth $35,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in IonQ in the fourth quarter valued at approximately $437,000. Federated Hermes Inc. purchased a new stake in IonQ in the 4th quarter worth $446,000. Envestnet Asset Management Inc. acquired a new position in IonQ during the fourth quarter worth $353,000. Wells Fargo & Company MN lifted its holdings in IonQ by 43.4% during the fourth quarter. Wells Fargo & Company MN now owns 255,061 shares of the company's stock valued at $10,654,000 after purchasing an additional 77,151 shares in the last quarter. Finally, Orion Investment Co grew its position in shares of IonQ by 1.3% in the fourth quarter. Orion Investment Co now owns 238,265 shares of the company's stock valued at $9,952,000 after purchasing an additional 2,990 shares during the period. Hedge funds and other institutional investors own 41.42% of the company's stock.

Insiders Place Their Bets

In related news, CRO Rima Alameddine sold 1,407 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the transaction, the executive now directly owns 592,615 shares of the company's stock, valued at $12,563,438. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William F. Scannell purchased 93,066 shares of IonQ stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares of the company's stock, valued at $2,945,375.07. The trade was a 221.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 2,033,166 shares of company stock worth $38,059,593 over the last 90 days. Corporate insiders own 11.60% of the company's stock.

IonQ Price Performance

Shares of NYSE IONQ traded up $1.24 during midday trading on Friday, hitting $25.81. The company's stock had a trading volume of 10,111,365 shares, compared to its average volume of 15,888,900. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The business's fifty day simple moving average is $25.76 and its two-hundred day simple moving average is $28.79. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of -31.87 and a beta of 2.50.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IONQ shares. The Goldman Sachs Group boosted their price objective on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Benchmark reiterated a "buy" rating and set a $45.00 price target on shares of IonQ in a research report on Monday, March 31st. DA Davidson lowered their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.80.

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.