State of New Jersey Common Pension Fund D Buys New Stake in IonQ, Inc. (NYSE:IONQ)

State of New Jersey Common Pension Fund D purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 75,266 shares of the company’s stock, valued at approximately $3,144,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ during the 4th quarter worth about $26,000. Golden State Wealth Management LLC purchased a new position in IonQ during the fourth quarter worth approximately $34,000. City State Bank acquired a new stake in IonQ in the fourth quarter valued at approximately $36,000. Hemington Wealth Management purchased a new stake in shares of IonQ in the fourth quarter valued at approximately $37,000. Finally, Versant Capital Management Inc raised its stake in shares of IonQ by 1,348.5% during the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock worth $40,000 after buying an additional 890 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the topic of a number of research analyst reports. Benchmark lifted their price target on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their target price on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. DA Davidson started coverage on IonQ in a report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Craig Hallum boosted their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling at IonQ

In related news, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock worth $1,314,652 in the last three months. 11.60% of the stock is owned by corporate insiders.

IonQ Price Performance

IONQ stock opened at $34.14 on Thursday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The firm has a market capitalization of $7.39 billion, a PE ratio of -42.14 and a beta of 2.40. The business has a 50 day simple moving average of $39.86 and a 200-day simple moving average of $23.78.

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.