IonQ, Inc. (NYSE:IONQ) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in IonQ, Inc. (NYSE:IONQ) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,481 shares of the company’s stock after acquiring an additional 8,800 shares during the quarter. New York State Common Retirement Fund’s holdings in IonQ were worth $2,568,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of IonQ in the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in shares of IonQ in the 4th quarter worth approximately $34,000. City State Bank acquired a new position in shares of IonQ in the 4th quarter worth approximately $36,000. Hemington Wealth Management acquired a new position in shares of IonQ in the 4th quarter worth approximately $37,000. Finally, Versant Capital Management Inc grew its position in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after acquiring an additional 890 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, the executive now owns 571,321 shares of the company’s stock, valued at $16,985,373.33. The trade was a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at $12,319,011.99. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock valued at $1,314,652 in the last quarter. Corporate insiders own 11.60% of the company’s stock.

IonQ Price Performance

Shares of IonQ stock opened at $24.60 on Friday. The business’s fifty day moving average price is $38.59 and its two-hundred day moving average price is $24.88. The company has a market capitalization of $5.32 billion, a P/E ratio of -30.37 and a beta of 2.41. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of IonQ in a report on Thursday. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Craig Hallum raised their price target on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Benchmark cut their price target on IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $44.80.

IonQ 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.