Bank of Montreal Can Takes $437,000 Position in IonQ, Inc. (NYSE:IONQ)

Bank of Montreal Can purchased a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,463 shares of the company's stock, valued at approximately $437,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC acquired a new position in IonQ in the 4th quarter worth $26,000. Smartleaf Asset Management LLC lifted its stake in shares of IonQ by 421.0% in the fourth 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 purchased a new position in IonQ in the fourth quarter valued at about $34,000. City State Bank acquired a new stake in IonQ during the 4th quarter valued at approximately $36,000. Finally, Hemington Wealth Management purchased a new stake in IonQ during the 4th quarter worth approximately $37,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other IonQ news, Director William F. Scannell acquired 93,066 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $21.81 per share, with a total value of $2,029,769.46. Following the acquisition, the director now directly owns 135,047 shares of the company's stock, valued at $2,945,375.07. This represents a 221.69 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction 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 sale, the insider now directly owns 414,363 shares in the company, valued at $7,756,875.36. The trade was a 82.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,033,166 shares of company stock valued at $38,059,593 in the last quarter. Company insiders own 11.60% of the company's stock.

IonQ Trading Up 1.9 %

IONQ traded up $0.54 during trading on Friday, reaching $28.93. 27,604,826 shares of the company were exchanged, compared to its average volume of 16,072,209. The stock has a market cap of $6.45 billion, a P/E ratio of -35.72 and a beta of 2.50. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The firm has a 50 day moving average of $24.73 and a 200 day moving average of $29.26.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson decreased their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Benchmark cut their price objective on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday. Needham & Company LLC reiterated a "buy" rating and issued a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. Finally, The Goldman Sachs Group raised 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.80.

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.