IonQ, Inc. (NYSE:IONQ) CEO Masi Niccolo De Sells 2,597,500 Shares

IonQ, Inc. (NYSE:IONQ - Get Free Report) CEO Masi Niccolo De sold 2,597,500 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total transaction of $104,783,150.00. Following the sale, the chief executive officer now owns 711,987 shares of the company's stock, valued at approximately $28,721,555.58. This represents a 78.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Masi Niccolo De also recently made the following trade(s):

• On Monday, June 9th, Masi Niccolo De sold 9,280 shares of IonQ stock. The shares were sold at an average price of $42.23, for a total transaction of $391,894.40.

IonQ Stock Performance

Shares of IonQ stock traded up $0.64 during trading on Monday, reaching $38.48. The company's stock had a trading volume of 29,070,041 shares, compared to its average volume of 18,755,780. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of -47.51 and a beta of 2.59. The business's fifty day moving average price is $33.19 and its 200-day moving average price is $33.39.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. The firm had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. Sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of IonQ in a research note on Wednesday, June 11th. Morgan Stanley raised their price target on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Benchmark increased their price objective on IonQ from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, DA Davidson cut their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, IonQ has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP acquired a new stake in shares of IonQ during the fourth quarter worth approximately $420,000. Stephens Inc. AR acquired a new position in shares of IonQ during the 4th quarter worth about $936,000. Essex Financial Services Inc. increased its stake in IonQ by 68.0% in the fourth quarter. Essex Financial Services Inc. now owns 18,709 shares of the company's stock valued at $781,000 after purchasing an additional 7,571 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in IonQ during the 4th quarter worth $434,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of IonQ during the 4th quarter valued at about $237,000. Institutional investors own 41.42% of the company's stock.

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.