Public Employees Retirement Association of Colorado Purchases Shares of 21,212 IonQ, Inc. (NYSE:IONQ)

Public Employees Retirement Association of Colorado purchased a new position in IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 21,212 shares of the company's stock, valued at approximately $886,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IONQ. PDS Planning Inc increased its position in IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after buying an additional 300 shares during the last quarter. Mariner LLC increased its position in IonQ by 0.6% during the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock worth $2,276,000 after acquiring an additional 350 shares during the period. Allworth Financial LP grew its position in IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock worth $116,000 after purchasing an additional 363 shares during the last quarter. GAMMA Investing LLC raised its position in shares of IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company's stock valued at $47,000 after buying an additional 480 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IONQ. The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Benchmark lowered their price objective on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC restated a "buy" rating and set a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. Finally, DA Davidson lowered their price target on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, IonQ has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Insider Activity

In other news, CRO Rima Alameddine sold 1,407 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Scannell bought 93,066 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the acquisition, the director now owns 135,047 shares in the company, valued at approximately $2,945,375.07. This represents a 221.69 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,033,166 shares of company stock valued at $38,059,593 over the last three months. 11.60% of the stock is owned by insiders.

IonQ Price Performance

Shares of IONQ stock traded up $3.54 during trading hours on Friday, hitting $30.92. 23,944,080 shares of the company's stock were exchanged, compared to its average volume of 16,235,439. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The stock's 50-day moving average is $24.37 and its 200-day moving average is $29.89. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -38.17 and a beta of 2.50.

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.