Peter Hume Chapman Sells 2,000,000 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) insider Peter Hume Chapman sold 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the transaction, the insider now owns 414,363 shares of the company’s stock, valued at $7,756,875.36. This represents a 82.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Peter Hume Chapman also recently made the following trade(s):

• On Wednesday, December 11th, Peter Hume Chapman sold 13,106 shares of IonQ stock. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38.

IonQ Stock Up 16.7 %

Shares of NYSE IONQ opened at $21.83 on Thursday. The stock’s fifty day simple moving average is $34.91 and its 200 day simple moving average is $25.64. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of -26.94 and a beta of 2.50. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

Hedge Funds Weigh In On IonQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $14,107,000 after buying an additional 135,851 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of IonQ by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after acquiring an additional 111,435 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of IonQ in the 3rd quarter valued at approximately $1,631,000. Prospera Financial Services Inc boosted its stake in IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock worth $337,000 after purchasing an additional 25,502 shares during the period. Finally, State Street Corp grew its position in IonQ by 1.8% during the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after purchasing an additional 75,596 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Benchmark decreased 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. The Goldman Sachs Group boosted their price target on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of IonQ in a research 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 company. According to data from MarketBeat.com, IonQ has an average rating of “Buy” and a consensus price target of $44.80.

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.