Arizona State Retirement System Buys 1,187 Shares of IonQ, Inc. (NYSE:IONQ)

Arizona State Retirement System raised its stake in shares of IonQ, Inc. (NYSE:IONQ) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,985 shares of the company’s stock after acquiring an additional 1,187 shares during the quarter. Arizona State Retirement System’s holdings in IonQ were worth $2,338,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its position in IonQ by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock valued at $38,640,000 after acquiring an additional 199,360 shares in the last quarter. State Street Corp boosted its position in IonQ by 1.8% during the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after acquiring an additional 75,596 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in IonQ by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after acquiring an additional 31,638 shares in the last quarter. Bank of New York Mellon Corp boosted its position in IonQ by 28.0% during the 4th quarter. Bank of New York Mellon Corp now owns 905,545 shares of the company’s stock valued at $37,825,000 after acquiring an additional 198,129 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC acquired a new stake in shares of IonQ in the 4th quarter worth $32,060,000. Institutional investors own 41.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on IONQ. DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Craig Hallum raised their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Benchmark lowered their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group raised their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, IonQ has a consensus rating of “Buy” and an average price target of $44.80.

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the transaction, the executive now owns 592,615 shares in the company, valued at $12,563,438. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Peter Hume Chapman sold 13,106 shares of IonQ stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,630 shares of company stock worth $1,344,480 in the last 90 days. Insiders own 11.60% of the company’s stock.

IonQ Price Performance

Shares of IONQ stock opened at $18.27 on Tuesday. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of -22.55 and a beta of 2.50. The business has a fifty day moving average of $35.77 and a 200 day moving average of $25.59. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74.

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.