Maverick Capital Ltd Sells 33,405 Shares of Infleqtion (NYSE:INFQ) Stock

Key Points

• Maverick Capital sold 33,405 Infleqtion shares at an average price of $12.62, generating $421,571.10 and reducing its ownership by 2.11% to 1.55 million shares. The sale was part of a broader series of recent transactions, including the sale of 164,824 shares on August 21.
• Infleqtion shares rose to $14.08, while the company reported a quarterly loss of $0.11 per share, missing the $0.07 consensus estimate, alongside $13.54 million in revenue.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $21.00 price target, despite ratings ranging from “Strong Buy” to “Sell.”

Infleqtion (NYSE:INFQ - Get Free Report) Director Maverick Capital Ltd sold 33,405 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $12.62, for a total transaction of $421,571.10. Following the completion of the transaction, the director directly owned 1,546,057 shares in the company, valued at $19,511,239.34. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Maverick Capital Ltd also recently made the following trade(s):

• On Friday, August 21st, Maverick Capital Ltd sold 164,824 shares of Infleqtion stock. The stock was sold at an average price of $13.02, for a total value of $2,146,008.48.
• On Thursday, August 13th, Maverick Capital Ltd sold 1,609 shares of Infleqtion stock. The shares were sold at an average price of $12.19, for a total value of $19,613.71.
• On Tuesday, August 11th, Maverick Capital Ltd sold 1,079 shares of Infleqtion stock. The shares were sold at an average price of $11.82, for a total value of $12,753.78.
• On Monday, August 10th, Maverick Capital Ltd sold 5,488 shares of Infleqtion stock. The stock was sold at an average price of $11.69, for a total transaction of $64,154.72.
• On Friday, August 7th, Maverick Capital Ltd sold 6,346 shares of Infleqtion stock. The shares were sold at an average price of $11.87, for a total value of $75,327.02.
• On Thursday, August 6th, Maverick Capital Ltd sold 8,057 shares of Infleqtion stock. The stock was sold at an average price of $11.09, for a total transaction of $89,352.13.
• On Wednesday, August 5th, Maverick Capital Ltd sold 1,324 shares of Infleqtion stock. The shares were sold at an average price of $10.88, for a total value of $14,405.12.
• On Tuesday, August 4th, Maverick Capital Ltd sold 28,168 shares of Infleqtion stock. The stock was sold at an average price of $11.44, for a total transaction of $322,241.92.
• On Friday, August 14th, Maverick Capital Ltd purchased 52,071 shares of Infleqtion stock. The stock was bought at an average price of $12.42 per share, with a total value of $646,721.82.
• On Friday, May 29th, Maverick Capital Ltd sold 1,797,637 shares of Infleqtion stock. The shares were sold at an average price of $16.10, for a total value of $28,941,955.70.

Infleqtion Stock Performance

Shares of NYSE:INFQ traded up $1.53 during midday trading on Friday, reaching $14.08. 15,330,819 shares of the company traded hands, compared to its average volume of 9,503,794. Infleqtion has a 12 month low of $8.52 and a 12 month high of $27.50. The business's fifty day moving average price is $11.78.

Infleqtion (NYSE:INFQ - Get Free Report) last posted its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). The company had revenue of $13.54 million during the quarter. Equities analysts predict that Infleqtion will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Infleqtion

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of Infleqtion by 1,350.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company's stock valued at $14,343,000 after acquiring an additional 1,002,576 shares during the period. Davis Asset Management L.P. bought a new stake in Infleqtion during the second quarter valued at about $27,783,000. S&G Foundation bought a new position in Infleqtion in the 2nd quarter worth approximately $154,164,000. Wellington Management Group LLP bought a new position in shares of Infleqtion during the second quarter worth $3,708,000. Finally, Secure Asset Management LLC purchased a new position in shares of Infleqtion during the second quarter valued at about $847,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INFQ shares. UBS Group began coverage on Infleqtion in a research note on Wednesday, April 29th. They issued a "buy" rating for the company. Citigroup lifted their price objective on Infleqtion from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday. Zacks Research upgraded shares of Infleqtion to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings started coverage on shares of Infleqtion in a report on Wednesday, May 27th. They set a "sell (d)" rating on the stock. Finally, Canaccord Genuity Group initiated coverage on Infleqtion in a research note on Thursday, July 2nd. They issued a "buy" rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Infleqtion currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Infleqtion Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source