Rima Alameddine Sells 1,407 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the transaction, the executive now owns 592,615 shares in the company, valued at approximately $12,563,438. This trade 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 accessible through this hyperlink.

Rima Alameddine also recently made the following trade(s):

• On Wednesday, December 11th, Rima Alameddine sold 21,337 shares of IonQ stock. The shares were sold at an average price of $29.73, for a total value of $634,349.01.

IonQ Trading Up 2.2 %

IONQ opened at $18.68 on Wednesday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -23.06 and a beta of 2.50. The business has a 50 day moving average of $35.31 and a 200-day moving average of $25.67.

Wall Street Analyst Weigh In

IONQ has been the subject of a number of recent analyst reports. DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. Benchmark decreased their target price 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 reaffirmed a “buy” rating and set a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. Craig Hallum upped their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group upped their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. One equities research 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 stock. Based on data from MarketBeat, IonQ has a consensus rating of “Buy” and a consensus price target of $44.80.

Institutional Investors Weigh In On IonQ

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of IonQ by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company’s stock valued at $892,797,000 after purchasing an additional 125,144 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of IonQ by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock valued at $186,593,000 after purchasing an additional 45,942 shares in the last quarter. State Street Corp raised its stake in shares of IonQ by 1.8% in the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after purchasing an additional 75,596 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of IonQ by 1,310.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock valued at $103,095,000 after purchasing an additional 2,293,231 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of IonQ by 12.6% in the fourth quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock valued at $80,809,000 after purchasing an additional 216,752 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

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.