IonQ, Inc. (NYSE:IONQ – Get Free Report) CEO Masi Niccolo De sold 2,597,500 shares of IonQ stock in a transaction on Wednesday, June 11th. The shares were 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 directly owns 711,987 shares of the company’s stock, valued at approximately $28,721,555.58. The trade was a 78.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
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 shares were sold at an average price of $42.23, for a total value of $391,894.40.
IonQ Stock Down 2.4%
Shares of IONQ stock opened at $37.79 on Friday. The stock has a 50-day moving average price of $33.19 and a 200 day moving average price of $33.37. The firm 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 12 month low of $6.22 and a 12 month high of $54.74.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on IONQ shares. Benchmark lifted their price objective on IonQ from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley raised their target price on IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. DA Davidson lowered their target price on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of IonQ in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.
Read Our Latest Research Report on IonQ
Hedge Funds Weigh In On IonQ
Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its position in shares of IonQ by 6.6% during the 1st quarter. Rhumbline Advisers now owns 323,930 shares of the company’s stock worth $7,149,000 after buying an additional 20,127 shares during the period. Strs Ohio acquired a new position in shares of IonQ during the 1st quarter worth about $1,017,000. Intech Investment Management LLC grew its position in shares of IonQ by 26.4% during the 1st quarter. Intech Investment Management LLC now owns 124,920 shares of the company’s stock worth $2,757,000 after buying an additional 26,085 shares during the period. Focus Partners Wealth grew its position in shares of IonQ by 30.3% during the 1st quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after buying an additional 10,881 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of IonQ by 24.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after buying an additional 87,428 shares during the period. 41.42% of the stock is currently owned by institutional investors and hedge funds.
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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