Insider Selling: IonQ, Inc. (NYSE:IONQ) Insider Sells 2,000,000 Shares of Stock

IonQ, Inc. (NYSE:IONQ) insider Peter Hume Chapman sold 2,000,000 shares of the company’s 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 transaction, the insider now directly owns 414,363 shares in the company, valued at approximately $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 can be accessed through the SEC website.

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 value of $389,641.38.

IonQ Price Performance

Shares of IonQ stock traded up $0.41 during trading hours on Tuesday, reaching $18.68. The company had a trading volume of 17,794,694 shares, compared to its average volume of 13,951,757. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The business has a fifty day simple moving average of $35.31 and a 200 day simple moving average of $25.67. The firm has a market cap of $4.16 billion, a PE ratio of -23.06 and a beta of 2.50.

Hedge Funds Weigh In On IonQ

Large investors have recently made changes to their positions in the stock. Pathway Financial Advisers LLC purchased a new stake in shares of IonQ in the fourth quarter worth $26,000. Smartleaf Asset Management LLC raised its position in shares of IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after buying an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new stake in shares of IonQ in the fourth quarter worth $27,000. TD Waterhouse Canada Inc. purchased a new stake in shares of IonQ in the fourth quarter worth $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of IonQ in the fourth quarter worth $34,000. 41.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Craig Hallum increased their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Benchmark reduced their target price on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of IonQ in a report on Thursday, February 27th. 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. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price 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.