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

Oppenheimer & Co. Inc. lifted its position in shares of IonQ, Inc. (NYSE:IONQ) by 276.1% during the fourth quarter, HoldingsChannel reports. The firm owned 159,385 shares of the company’s stock after buying an additional 117,010 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in IonQ were worth $6,658,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, CEO Peter Hume Chapman sold 13,106 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the transaction, the chief financial officer now owns 926,114 shares of the company’s stock, valued at $27,524,108.08. The trade was 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 in the last 90 days. 11.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson raised shares of IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark reduced 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. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group boosted 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IonQ currently has a consensus rating of “Buy” and an average target price of $44.80.

IonQ Stock Performance

IONQ opened at $24.91 on Friday. The business’s 50-day simple moving average is $38.99 and its 200 day simple moving average is $24.63. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The firm has a market capitalization of $5.39 billion, a PE ratio of -30.75 and a beta of 2.41.

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.