JPMorgan Chase & Co. Increases Stock Holdings in IonQ, Inc. $IONQ

JPMorgan Chase & Co. lifted its position in shares of IonQ, Inc. (NYSE:IONQ) by 12.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,008,001 shares of the company’s stock after purchasing an additional 333,653 shares during the period. JPMorgan Chase & Co. owned about 0.87% of IonQ worth $184,992,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IONQ. Vanguard Group Inc. grew its stake in shares of IonQ by 15.2% during the 2nd quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company’s stock worth $1,064,257,000 after purchasing an additional 3,269,482 shares during the period. Geode Capital Management LLC raised its holdings in IonQ by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock valued at $229,422,000 after acquiring an additional 705,301 shares during the last quarter. State Street Corp lifted its position in IonQ by 15.1% during the second quarter. State Street Corp now owns 5,255,681 shares of the company’s stock worth $225,837,000 after buying an additional 688,663 shares during the period. Norges Bank purchased a new position in shares of IonQ during the 2nd quarter worth about $114,767,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of IonQ by 17.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,897,085 shares of the company’s stock valued at $81,518,000 after purchasing an additional 279,895 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Trading Down 4.4%

Shares of NYSE IONQ opened at $31.95 on Friday. IonQ, Inc. has a twelve month low of $17.88 and a twelve month high of $84.64. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of -5.97 and a beta of 2.63. The business has a 50 day simple moving average of $43.81 and a 200-day simple moving average of $50.53.

Analysts Set New Price Targets

IONQ has been the topic of a number of research reports. Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. initiated coverage on IonQ in a research report on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of IonQ in a research note on Friday, February 6th. Finally, Jefferies Financial Group initiated coverage on IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.91.

Insider Transactions at IonQ

In other news, Director Kathryn K. Chou sold 20,000 shares of IonQ stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the director owned 60,839 shares of the company’s stock, valued at approximately $3,127,124.60. The trade was a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.20% of the stock is owned by insiders.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.