Ticino Wealth Takes Position in IonQ, Inc. $IONQ

Key Points

• Ticino Wealth opened a new position in IonQ with 13,943 shares (~$626,000) in Q4, while large institutions like Vanguard, Lansdowne and State Street have also recently increased stakes, leaving about 41.42% of the stock held by institutions.
• Insider transactions show mixed signals: Director William J. Teuber Jr. bought 3,000 shares at $38.38, while Robert T. Cardillo sold 5,165 shares at $39.44; insiders have sold 8,581 shares in the last 90 days and now own 5.20% of the company.
• Analysts hold a consensus "Moderate Buy" with an average target of $68.25 (targets range $37–$100); IonQ trades around $47.33, has a market cap of ~$17.35B and a negative PE.

Ticino Wealth purchased a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,943 shares of the company's stock, valued at approximately $626,000.

Several other large investors also recently modified their holdings of IONQ. Vanguard Group Inc. increased its holdings in shares of IonQ by 18.5% in the third quarter. Vanguard Group Inc. now owns 29,354,706 shares of the company's stock valued at $1,805,314,000 after purchasing an additional 4,587,260 shares in the last quarter. Lansdowne Partners UK LLP lifted its stake in shares of IonQ by 286.1% in the 3rd quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company's stock valued at $119,127,000 after purchasing an additional 1,435,394 shares during the period. State Street Corp boosted its position in shares of IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company's stock worth $387,423,000 after purchasing an additional 1,043,878 shares during the last quarter. Clear Street Group Inc. acquired a new stake in shares of IonQ during the third quarter worth $61,488,000. Finally, Ameriprise Financial Inc. lifted its stake in IonQ by 262.8% in the second quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company's stock valued at $24,768,000 after buying an additional 930,490 shares during the period. 41.42% of the stock is currently owned by institutional investors.

Insider Transactions at IonQ

In related news, Director William J. Teuber, Jr. purchased 3,000 shares of IonQ stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $38.38 per share, for a total transaction of $115,140.00. Following the purchase, the director owned 9,413 shares in the company, valued at approximately $361,270.94. This trade represents a 46.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert T. Cardillo sold 5,165 shares of IonQ stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $39.44, for a total transaction of $203,707.60. Following the sale, the insider directly owned 112,291 shares in the company, valued at $4,428,757.04. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 8,581 shares of company stock valued at $316,156. 5.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IONQ has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of IonQ in a report on Monday, February 9th. Benchmark reduced their price objective on IonQ from $75.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Needham & Company LLC cut their target price on IonQ from $80.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price target on shares of IonQ in a research note on Thursday, February 26th. Finally, Morgan Stanley set a $37.00 price target on IonQ in a research note on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.25.

IonQ Stock Down 2.0%

NYSE:IONQ opened at $47.33 on Tuesday. IonQ, Inc. has a twelve month low of $23.93 and a twelve month high of $84.64. The stock's 50-day simple moving average is $33.63 and its 200 day simple moving average is $45.78. The firm has a market capitalization of $17.35 billion, a PE ratio of -19.11 and a beta of 2.80.

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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.