IonQ, Inc. (NYSE:IONQ) CEO Sells $104,783,150.00 in Stock

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 value of $104,783,150.00. Following the transaction, the chief executive officer now owns 711,987 shares in the company, valued at approximately $28,721,555.58. This represents a 78.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $42.23, for a total value of $391,894.40.

IonQ Stock Performance

Shares of IonQ stock traded down $0.92 during trading hours on Friday, hitting $37.79. The company's stock had a trading volume of 19,334,687 shares, compared to its average volume of 18,650,839. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -46.65 and a beta of 2.59. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The firm has a fifty day moving average of $33.19 and a 200-day moving average of $33.37.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of IonQ in a report on Wednesday. Morgan Stanley boosted their price target on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Benchmark raised their price objective on shares of IonQ from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, DA Davidson reduced their target price on shares of IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, IonQ presently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Hedge Funds Weigh In On IonQ

Hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund raised its position in IonQ by 16.7% in the fourth quarter. New York State Common Retirement Fund now owns 61,481 shares of the company's stock valued at $2,568,000 after purchasing an additional 8,800 shares during the period. Rhumbline Advisers grew its stake in shares of IonQ by 9.2% in the fourth quarter. Rhumbline Advisers now owns 303,803 shares of the company's stock valued at $12,690,000 after buying an additional 25,577 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of IonQ by 1,310.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after buying an additional 2,293,231 shares during the period. Sei Investments Co. acquired a new position in IonQ during the 4th quarter worth about $1,255,000. Finally, Wells Fargo & Company MN boosted its holdings in IonQ by 43.4% during the 4th quarter. Wells Fargo & Company MN now owns 255,061 shares of the company's stock valued at $10,654,000 after acquiring an additional 77,151 shares during the period. Hedge funds and other 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.

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