IonQ, Inc. (NYSE:IONQ) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in IonQ, Inc. (NYSE:IONQ) by 40.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 204,956 shares of the company’s stock after buying an additional 59,022 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of IonQ worth $2,539,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in IonQ by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 66,328 shares of the company’s stock valued at $822,000 after purchasing an additional 1,416 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its position in IonQ by 25.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 157,500 shares of the company’s stock worth $1,951,000 after acquiring an additional 31,500 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in IonQ by 59.5% in the 4th quarter. Handelsbanken Fonder AB now owns 35,400 shares of the company’s stock worth $439,000 after acquiring an additional 13,200 shares during the period. Strs Ohio raised its stake in shares of IonQ by 80.6% during the fourth quarter. Strs Ohio now owns 18,600 shares of the company’s stock valued at $230,000 after purchasing an additional 8,300 shares during the period. Finally, Carnegie Capital Asset Management LLC lifted its position in shares of IonQ by 4.1% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 517,134 shares of the company’s stock worth $6,407,000 after purchasing an additional 20,540 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of IonQ in a report on Thursday, February 29th. The Goldman Sachs Group dropped their price objective on IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

IonQ Price Performance

Shares of IONQ opened at $8.75 on Thursday. IonQ, Inc. has a 12-month low of $5.29 and a 12-month high of $21.60. The business’s fifty day moving average price is $9.26 and its 200 day moving average price is $11.03. The stock has a market capitalization of $1.82 billion, a PE ratio of -11.21 and a beta of 2.14.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. The business had revenue of $6.11 million during the quarter, compared to the consensus estimate of $5.70 million. As a group, research analysts anticipate that IonQ, Inc. will post -1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas G. Kramer sold 19,672 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $200,654.40. Following the completion of the transaction, the chief financial officer now owns 954,224 shares in the company, valued at $9,733,084.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other IonQ news, CFO Thomas G. Kramer sold 19,672 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $200,654.40. Following the completion of the transaction, the chief financial officer now owns 954,224 shares in the company, valued at approximately $9,733,084.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Peter Hume Chapman sold 29,452 shares of IonQ stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $300,410.40. Following the sale, the chief executive officer now directly owns 451,233 shares in the company, valued at approximately $4,602,576.60. The disclosure for this sale can be found here. Insiders have sold 86,556 shares of company stock valued at $882,871 over the last three months. Company insiders own 13.00% of the company’s stock.

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.