XTX Topco Ltd Buys New Holdings in IonQ, Inc. (NYSE:IONQ)

XTX Topco Ltd purchased a new position in IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,969 shares of the company's stock, valued at approximately $1,544,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of IonQ by 1.8% in the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company's stock worth $37,240,000 after acquiring an additional 75,596 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of IonQ in the fourth quarter worth approximately $3,840,000. Strategic Advocates LLC bought a new position in shares of IonQ in the fourth quarter valued at approximately $863,000. Geode Capital Management LLC grew its holdings in IonQ by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company's stock worth $38,640,000 after buying an additional 199,360 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in IonQ by 16.7% in the 4th quarter. New York State Common Retirement Fund now owns 61,481 shares of the company's stock valued at $2,568,000 after buying an additional 8,800 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

IonQ Stock Down 2.8 %

IONQ opened at $25.35 on Tuesday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company's 50-day moving average price is $26.95 and its two-hundred day moving average price is $28.47. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of -31.30 and a beta of 2.50.

Insider Buying and Selling

In other IonQ news, Director William F. Scannell bought 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas G. Kramer sold 11,712 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 $17,539,550.70. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IONQ. Benchmark reaffirmed a "buy" rating and set a $45.00 price objective on shares of IonQ in a report on Monday, March 31st. Needham & Company LLC restated a "buy" rating and set a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. Craig Hallum increased their price objective 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. DA Davidson cut their target price on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group increased their price target on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, IonQ currently has a consensus rating of "Moderate Buy" and an average price target of $41.80.

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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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