IonQ, Inc. (NYSE:IONQ) CRO Sells $29,828.40 in Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 1,407 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $21.20, for a total value of $29,828.40. Following the completion of the sale, the executive now owns 592,615 shares in the company, valued at approximately $12,563,438. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rima Alameddine also recently made the following trade(s):

• On Wednesday, December 11th, Rima Alameddine sold 21,337 shares of IonQ stock. The shares were sold at an average price of $29.73, for a total value of $634,349.01.

IonQ Trading Up 16.7 %

NYSE IONQ opened at $21.83 on Thursday. The business’s 50-day moving average price is $34.91 and its 200 day moving average price is $25.64. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market capitalization of $4.86 billion, a PE ratio of -26.94 and a beta of 2.50.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group raised their price objective on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Craig Hallum raised their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. Finally, Benchmark dropped their target price on IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IonQ has a consensus rating of “Buy” and an average target price of $44.80.

Hedge Funds Weigh In On IonQ

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in IonQ by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company’s stock worth $892,797,000 after acquiring an additional 125,144 shares during the last quarter. Geode Capital Management LLC increased its stake in IonQ by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,466,094 shares of the company’s stock worth $186,593,000 after acquiring an additional 45,942 shares during the last quarter. State Street Corp increased its stake in IonQ by 1.8% during the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after acquiring an additional 75,596 shares during the last quarter. JPMorgan Chase & Co. increased its stake in IonQ by 1,310.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company’s stock worth $103,095,000 after acquiring an additional 2,293,231 shares during the last quarter. Finally, Northern Trust Corp increased its stake in IonQ by 12.6% during the fourth quarter. Northern Trust Corp now owns 1,934,625 shares of the company’s stock worth $80,809,000 after acquiring an additional 216,752 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

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.