IonQ, Inc. (NYSE:IONQ) Insider Sells $37,440,000.00 in Stock

IonQ, Inc. (NYSE:IONQ) insider Peter Hume Chapman sold 2,000,000 shares of IonQ stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the transaction, the insider now directly owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Peter Hume Chapman also recently made the following trade(s):

• On Wednesday, December 11th, Peter Hume Chapman sold 13,106 shares of IonQ stock. The shares were sold at an average price of $29.73, for a total transaction of $389,641.38.

IonQ Stock Up 2.2 %

IonQ stock opened at $18.68 on Wednesday. The firm has a 50-day moving average price of $35.31 and a two-hundred day moving average price of $25.67. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -23.06 and a beta of 2.50. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Advisors Network LLC bought a new stake in shares of IonQ during the 4th quarter worth about $316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of IonQ by 29.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 362,603 shares of the company’s stock worth $15,146,000 after buying an additional 82,499 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of IonQ during the 4th quarter worth about $7,081,000. Virtus Fund Advisers LLC bought a new stake in shares of IonQ during the 4th quarter worth about $42,000. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of IonQ during the 4th quarter worth about $209,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.