State of New Jersey Common Pension Fund D Has $5.73 Million Stock Holdings in IonQ, Inc. $IONQ

State of New Jersey Common Pension Fund D grew its stake in shares of IonQ, Inc. (NYSE:IONQ) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,230 shares of the company’s stock after purchasing an additional 16,018 shares during the quarter. 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.

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

IonQ Stock Up 0.6%

Shares of IonQ stock opened at $33.39 on Thursday. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of -6.24 and a beta of 2.63. IonQ, Inc. has a twelve month low of $17.88 and a twelve month high of $84.64. The company has a 50-day simple moving average of $44.56 and a two-hundred day simple moving average of $50.70.

Insider Buying and Selling at IonQ

In related news, Director Kathryn K. Chou sold 5,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the sale, the director owned 60,839 shares of the company’s stock, valued at $3,346,145. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

IONQ has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of IonQ in a report on Tuesday, January 27th. Jefferies Financial Group started coverage on IonQ in a research report on Tuesday, December 16th. They issued a “buy” rating and a $100.00 price objective for the company. Wedbush began coverage on IonQ in a report on Wednesday, December 17th. They set an “outperform” rating and a $60.00 target price on the stock. Morgan Stanley increased their price target on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $75.91.

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.