IonQ, Inc. (NYSE:IONQ) CEO Masi Niccolo De Sells 9,280 Shares

IonQ, Inc. (NYSE:IONQ) CEO Masi Niccolo De sold 9,280 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $42.23, for a total value of $391,894.40. Following the transaction, the chief executive officer now directly owns 711,987 shares in the company, valued at $30,067,211.01. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

IonQ Stock Up 0.1%

Shares of IONQ opened at $39.79 on Thursday. The business’s 50 day moving average is $32.54 and its two-hundred day moving average is $33.27. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -49.13 and a beta of 2.59.

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

Hedge Funds Weigh In On IonQ

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of IonQ by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company’s stock valued at $474,460,000 after acquiring an additional 123,839 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of IonQ by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock valued at $186,593,000 after acquiring an additional 45,942 shares during the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 2,293,231 shares during the last quarter. Northern Trust Corp increased its holdings in shares of IonQ by 12.6% in the 4th quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock valued at $80,809,000 after acquiring an additional 216,752 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of IonQ by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company’s stock valued at $68,740,000 after acquiring an additional 31,638 shares during the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. DA Davidson reduced their price target on IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Benchmark boosted their price target on IonQ from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of IonQ in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on IonQ from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.