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 dated Tuesday, March 11th. The shares were 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 in the company, valued at $7,756,875.36. This represents a 82.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Price Performance

NYSE IONQ opened at $21.83 on Thursday. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74. The stock’s 50-day moving average is $34.91 and its two-hundred day moving average is $25.64. The firm has a market cap of $4.86 billion, a P/E ratio of -26.94 and a beta of 2.50.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IONQ. The Goldman Sachs Group lifted their target price on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Craig Hallum boosted their target price on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. DA Davidson raised IonQ to a “strong-buy” rating in a research report on Thursday, February 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. Finally, Benchmark dropped their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $44.80.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IONQ. Integrated Advisors Network LLC bought a new stake in IonQ during the fourth quarter worth approximately $316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of IonQ by 29.5% in the fourth 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 during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of IonQ during the 4th quarter worth $7,081,000. Virtus Fund Advisers LLC acquired a new position in IonQ in the 4th quarter valued at $42,000. Finally, Virtus Investment Advisers Inc. bought a new position in IonQ in the 4th quarter worth $209,000. 41.42% of the stock is owned by institutional investors.

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.