IonQ, Inc. (NYSE:IONQ) CRO Sells $372,272.79 in Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 20,047 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $372,272.79. Following the completion of the sale, the executive now owns 572,568 shares of the company’s stock, valued at approximately $10,632,587.76. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, March 6th, Rima Alameddine sold 1,407 shares of IonQ stock. The shares were sold at an average price of $21.20, for a total value of $29,828.40.

IonQ Stock Down 2.5 %

IonQ stock opened at $21.27 on Friday. The business’s 50-day simple moving average is $34.47 and its 200 day simple moving average is $25.61. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -26.26 and a beta of 2.50. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

Hedge Funds Weigh In On IonQ

Several hedge funds have recently added to or reduced their stakes in IONQ. Charles Schwab Investment Management Inc. boosted its holdings in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after buying an additional 135,851 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in IonQ by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock worth $3,825,000 after buying an additional 111,435 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in IonQ during the third quarter worth about $1,631,000. Prospera Financial Services Inc boosted its holdings in IonQ by 196.1% during the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock worth $337,000 after buying an additional 25,502 shares during the last quarter. Finally, State Street Corp boosted its holdings 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 buying an additional 75,596 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

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

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.