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 that occurred on Tuesday, March 11th. The stock was sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the transaction, the insider now owns 414,363 shares of the company’s stock, valued at approximately $7,756,875.36. The trade was a 82.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 value of $389,641.38.

IonQ Trading Down 2.5 %

Shares of NYSE IONQ opened at $21.27 on Friday. The firm has a market capitalization of $4.74 billion, a PE ratio of -26.26 and a beta of 2.50. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The firm’s 50-day moving average is $34.47 and its 200-day moving average is $25.61.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark decreased 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, February 27th. Finally, 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 report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, IonQ has a consensus rating of “Buy” and a consensus price target of $44.80.

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.