14,288 Shares in IonQ, Inc. $IONQ Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in IonQ, Inc. (NYSE:IONQ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,288 shares of the company’s stock, valued at approximately $879,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in shares of IonQ by 8.3% during the 3rd quarter. Victory Capital Management Inc. now owns 429,115 shares of the company’s stock worth $26,391,000 after buying an additional 32,928 shares during the period. CI Investments Inc. lifted its position in shares of IonQ by 135.1% during the 3rd quarter. CI Investments Inc. now owns 696 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares during the period. Capstone Wealth Management Group LLC bought a new position in IonQ during the third quarter worth $540,000. Cobblestone Capital Advisors LLC NY bought a new position in IonQ during the third quarter worth $252,000. Finally, Creekmur Asset Management LLC acquired a new stake in IonQ in the third quarter worth $137,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IonQ

In other IonQ news, insider Robert T. Cardillo sold 5,165 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total transaction of $203,707.60. Following the transaction, the insider directly owned 112,291 shares in the company, valued at approximately $4,428,757.04. This trade represents a 4.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn K. Chou sold 20,000 shares of IonQ stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the transaction, the director directly owned 60,839 shares in the company, valued at $3,127,124.60. This represents a 24.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,781 shares of company stock valued at $1,525,804 over the last 90 days. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IONQ shares. DA Davidson dropped their price objective on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. Jefferies Financial Group initiated coverage on IonQ in a research note on Tuesday, December 16th. They set a “buy” rating and a $100.00 price target on the stock. Needham & Company LLC cut their price target on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Morgan Stanley set a $37.00 price objective on IonQ in a research note on Thursday, February 26th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.45.

IonQ Stock Performance

IONQ stock opened at $35.69 on Friday. The company has a market capitalization of $13.09 billion, a P/E ratio of -14.33 and a beta of 2.61. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The business has a 50-day simple moving average of $41.25 and a two-hundred day simple moving average of $50.13.

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. 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.