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 the company’s stock in a transaction on 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 owns 414,363 shares in the company, valued at approximately $7,756,875.36. This represents a 82.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $29.73, for a total transaction of $389,641.38.

IonQ Trading Down 2.5 %

Shares of NYSE:IONQ opened at $21.27 on Friday. The stock’s fifty day simple moving average is $34.47 and its two-hundred day simple moving average is $25.61. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The stock has a market cap of $4.74 billion, a PE ratio of -26.26 and a beta of 2.50.

Institutional Investors Weigh In On IonQ

Large investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in IonQ in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC boosted its stake in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after purchasing an additional 501 shares during the period. Measured Risk Portfolios Inc. bought a new position in IonQ in the 4th quarter worth about $27,000. TD Waterhouse Canada Inc. bought a new position in IonQ in the 4th quarter worth about $33,000. Finally, Golden State Wealth Management LLC bought a new position in IonQ in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analysts Set New Price Targets

IONQ has been the subject of several research analyst reports. 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. DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upped their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Craig Hallum upped their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Benchmark lowered their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target 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.