IonQ, Inc. (NYSE:IONQ) Insider Peter Hume Chapman Sells 3,581,193 Shares

IonQ, Inc. (NYSE:IONQ - Get Free Report) insider Peter Hume Chapman sold 3,581,193 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $38.13, for a total value of $136,550,889.09. Following the completion of the transaction, the insider now owns 390,329 shares in the company, valued at approximately $14,883,244.77. This trade represents a 90.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Peter Hume Chapman also recently made the following trade(s):

• On Tuesday, June 17th, Peter Hume Chapman sold 910,740 shares of IonQ stock. The stock was sold at an average price of $37.78, for a total value of $34,407,757.20.
• On Wednesday, June 11th, Peter Hume Chapman sold 11,965 shares of IonQ stock. The shares were sold at an average price of $41.60, for a total value of $497,744.00.

IonQ Stock Up 4.2%

NYSE:IONQ traded up $1.58 on Wednesday, reaching $39.62. 18,185,825 shares of the company's stock traded hands, compared to its average volume of 18,863,991. The stock has a 50-day simple moving average of $34.04 and a 200-day simple moving average of $33.48. The firm has a market cap of $10.37 billion, a PE ratio of -26.59 and a beta of 2.59. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly 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 business had revenue of $7.57 million for the quarter, compared to analysts' expectations of $7.51 million. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The business's quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned ($0.19) earnings per share. On average, equities analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On IonQ

Several large investors have recently made changes to their positions in IONQ. ORG Partners LLC increased its holdings in shares of IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after purchasing an additional 870 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new stake in shares of IonQ in the fourth quarter worth about $27,000. TD Waterhouse Canada Inc. bought a new stake in shares of IonQ in the fourth quarter worth about $33,000. Finally, Future Financial Wealth Managment LLC increased its holdings in shares of IonQ by 50.0% in the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after purchasing an additional 500 shares during the last quarter. 41.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several analyst reports. Benchmark lifted their target price on IonQ from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of IonQ in a research report on Wednesday, June 11th. DA Davidson lowered their target price on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley lifted their target price on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

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.

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