Teachers Retirement System of The State of Kentucky Makes New $879,000 Investment in IonQ, Inc. $IONQ

Teachers Retirement System of The State of Kentucky bought a new position in IonQ, Inc. (NYSE:IONQ) during the third quarter, Holdings Channel.com reports. The firm bought 14,288 shares of the company’s stock, valued at approximately $879,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in IonQ by 18.5% during the third quarter. Vanguard Group Inc. now owns 29,354,706 shares of the company’s stock worth $1,805,314,000 after acquiring an additional 4,587,260 shares during the period. Norges Bank bought a new position in IonQ in the 2nd quarter valued at $114,767,000. JPMorgan Chase & Co. increased its position in shares of IonQ by 648.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock valued at $114,917,000 after purchasing an additional 2,317,058 shares during the last quarter. Ameriprise Financial Inc. raised 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 period. Finally, Geode Capital Management LLC raised its stake in shares of IonQ by 15.2% during the 2nd quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock worth $229,422,000 after purchasing an additional 705,301 shares during the period. 41.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IONQ has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Morgan Stanley set a $37.00 price objective on shares of IonQ in a research report on Thursday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of IonQ from $47.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Needham & Company LLC reduced their target price on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, DA Davidson decreased their price target on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.45.

Insider Activity at IonQ

In other IonQ news, Director Kathryn K. Chou sold 5,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the transaction, the director owned 60,839 shares in the company, valued at $3,346,145. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Teuber, Jr. bought 3,000 shares of IonQ stock in a transaction dated Friday, February 27th. The stock was acquired at an average price of $38.38 per share, with a total value of $115,140.00. Following the purchase, the director directly owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. This represents a 46.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 30,781 shares of company stock worth $1,525,804. Company insiders own 5.20% of the company’s stock.

IonQ Price Performance

Shares of NYSE IONQ opened at $35.69 on Friday. The stock has a market capitalization of $13.09 billion, a PE ratio of -14.33 and a beta of 2.61. IonQ, Inc. has a one year low of $17.88 and a one year high of $84.64. The business’s fifty day moving average price is $41.25 and its 200-day moving average price is $50.13.

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.