IonQ, Inc. (NYSE:IONQ) Insider Sells $59,787,628.23 in Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) insider Peter Hume Chapman sold 1,497,311 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $39.93, for a total value of $59,787,628.23. Following the sale, the insider now owns 390,329 shares in the company, valued at approximately $15,585,836.97. This trade represents a 79.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, June 16th, Peter Hume Chapman sold 3,581,193 shares of IonQ stock. The shares were sold at an average price of $38.13, for a total transaction of $136,550,889.09.
• 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 transaction of $34,407,757.20.
• On Wednesday, June 11th, Peter Hume Chapman sold 11,965 shares of IonQ stock. The stock was sold at an average price of $41.60, for a total value of $497,744.00.

IonQ Trading Up 1.6%

IONQ stock traded up $0.63 during trading on Friday, hitting $40.26. The company had a trading volume of 32,961,322 shares, compared to its average volume of 18,965,792. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of -27.02 and a beta of 2.59. The business has a 50 day moving average of $34.60 and a 200 day moving average of $33.58. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The company had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. During the same quarter in the previous year, the business earned ($0.19) EPS. The company's quarterly revenue was down .2% compared to the same quarter last year. As a group, equities analysts predict that IonQ, Inc. will post -0.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IONQ. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 2,293,231 shares during the period. Ameriprise Financial Inc. acquired a new position in IonQ in the fourth quarter worth approximately $29,519,000. Arrowstreet Capital Limited Partnership bought a new position in shares of IonQ during the 4th quarter valued at $29,513,000. Invesco Ltd. raised its holdings in IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock valued at $35,800,000 after buying an additional 698,146 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in IonQ by 475.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company's stock worth $28,771,000 after purchasing an additional 569,061 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Analyst Ratings Changes

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