Oppenheimer & Co. Inc. Purchases 117,010 Shares of IonQ, Inc. (NYSE:IONQ)

Oppenheimer & Co. Inc. raised its holdings in IonQ, Inc. (NYSE:IONQ) by 276.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,385 shares of the company’s stock after buying an additional 117,010 shares during the quarter. Oppenheimer & Co. Inc. owned 0.07% of IonQ worth $6,658,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IONQ. Pathway Financial Advisers LLC acquired a new position in shares of IonQ in the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in IonQ during the fourth quarter worth $34,000. City State Bank acquired a new position in IonQ during the fourth quarter worth $36,000. Hemington Wealth Management bought a new position in shares of IonQ during the fourth quarter valued at $37,000. Finally, Versant Capital Management Inc boosted its stake in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Activity

In related news, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at $27,524,108.08. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock valued at $1,314,652 over the last 90 days. 11.60% of the stock is owned by company insiders.

IonQ Stock Performance

NYSE:IONQ opened at $24.91 on Friday. The company has a market cap of $5.39 billion, a price-to-earnings ratio of -30.75 and a beta of 2.41. The stock’s fifty day moving average price is $38.99 and its two-hundred day moving average price is $24.63. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

Wall Street Analysts Forecast Growth

IONQ has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $54.00 target price on shares of IonQ in a research report on Thursday. The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Benchmark reduced their target price on IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Finally, Craig Hallum boosted their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $44.80.

IonQ Company 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.