State of New Jersey Common Pension Fund D Purchases 16,018 Shares of IonQ, Inc. $IONQ

State of New Jersey Common Pension Fund D boosted its position in shares of IonQ, Inc. (NYSE:IONQ) by 20.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,230 shares of the company’s stock after buying an additional 16,018 shares during the period. State of New Jersey Common Pension Fund D’s holdings in IonQ were worth $5,734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of IonQ by 15.2% during the 2nd quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company’s stock worth $1,064,257,000 after acquiring an additional 3,269,482 shares during the period. Norges Bank acquired a new position in IonQ during the second quarter valued at approximately $114,767,000. JPMorgan Chase & Co. lifted its stake in IonQ by 648.5% during the second quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock worth $114,917,000 after purchasing an additional 2,317,058 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of IonQ by 262.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock valued at $24,768,000 after purchasing an additional 930,490 shares in the last quarter. Finally, Amazon Com Inc. bought a new position in shares of IonQ in the 2nd quarter valued at $36,705,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kathryn K. Chou sold 20,000 shares of IonQ stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the transaction, the director owned 60,839 shares in the company, valued at approximately $3,127,124.60. The trade was a 24.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wedbush began coverage on IonQ in a research report on Wednesday, December 17th. They set an “outperform” rating and a $60.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of IonQ in a report on Thursday, January 22nd. Jefferies Financial Group began coverage on shares of IonQ in a research note on Tuesday, December 16th. They issued a “buy” rating and a $100.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of IonQ in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of IonQ in a research note on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price objective for the company. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.91.

IonQ Price Performance

Shares of NYSE IONQ opened at $33.39 on Thursday. The company has a 50 day simple moving average of $44.56 and a 200 day simple moving average of $50.70. IonQ, Inc. has a 1 year low of $17.88 and a 1 year high of $84.64. The firm has a market cap of $11.60 billion, a PE ratio of -6.24 and a beta of 2.63.

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. 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.