Oppenheimer & Co. Inc. Increases Stock Position in IonQ, Inc. (NYSE:IONQ)

Oppenheimer & Co. Inc. lifted its holdings in shares of IonQ, Inc. (NYSE:IONQGet Rating) by 58.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,785 shares of the company’s stock after purchasing an additional 10,285 shares during the period. Oppenheimer & Co. Inc.’s holdings in IonQ were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Sandy Spring Bank acquired a new stake in IonQ in the second quarter valued at $913,000. Vanguard Group Inc. lifted its stake in shares of IonQ by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,766,033 shares of the company’s stock valued at $48,054,000 after purchasing an additional 160,077 shares during the period. Transcend Capital Advisors LLC purchased a new stake in IonQ during the second quarter worth about $664,000. Carnegie Capital Asset Management LLC grew its position in IonQ by 32.0% during the second quarter. Carnegie Capital Asset Management LLC now owns 541,300 shares of the company’s stock worth $2,371,000 after buying an additional 131,100 shares during the period. Finally, Ergoteles LLC purchased a new position in IonQ in the first quarter valued at about $1,478,000. 62.32% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Laurie A. Babinski sold 5,086 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $5.44, for a total transaction of $27,667.84. Following the sale, the general counsel now owns 244,002 shares of the company’s stock, valued at $1,327,370.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Peter Hume Chapman sold 7,255 shares of IonQ stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $5.44, for a total transaction of $39,467.20. Following the completion of the sale, the chief executive officer now directly owns 466,066 shares in the company, valued at $2,535,399.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Laurie A. Babinski sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $5.44, for a total transaction of $27,667.84. Following the transaction, the general counsel now directly owns 244,002 shares in the company, valued at approximately $1,327,370.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,819 shares of company stock valued at $107,815. Corporate insiders own 14.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on IonQ from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. Benchmark lowered their target price on IonQ from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday.

IonQ Price Performance

Shares of IonQ stock opened at $4.92 on Friday. IonQ, Inc. has a 1 year low of $4.16 and a 1 year high of $29.37. The business has a 50 day moving average price of $5.28 and a 200 day moving average price of $5.41. The company has a market capitalization of $974.85 million, a P/E ratio of -9.11 and a beta of 1.66.

About IonQ

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IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.

See Also

Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQGet Rating).

Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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