Insider Selling: IonQ, Inc. (NYSE:IONQ) CFO Sells $217,491.84 in Stock

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the transaction, the chief financial officer now directly owns 944,510 shares in the company, valued at $17,539,550.70. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

IonQ Price Performance

IONQ stock opened at $25.16 on Friday. The company has a market cap of $5.61 billion, a price-to-earnings ratio of -31.06 and a beta of 2.50. The company has a fifty day moving average price of $34.02 and a 200 day moving average price of $25.86. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74.

Hedge Funds Weigh In On IonQ

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after acquiring an additional 135,851 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of IonQ by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock worth $3,825,000 after purchasing an additional 111,435 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in IonQ in the 3rd quarter valued at $1,631,000. Prospera Financial Services Inc increased its stake in IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after buying an additional 25,502 shares during the period. Finally, State Street Corp raised its position in IonQ by 1.8% during the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after buying an additional 75,596 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IONQ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. Benchmark dropped their price target on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Craig Hallum raised their price objective on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group increased their target price on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, DA Davidson raised shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. 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 stock. According to MarketBeat, the company presently 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.