IonQ, Inc. (NYSE:IONQ - Get Free Report) CFO Thomas G. Kramer sold 11,712 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the sale, the chief financial officer now directly owns 944,510 shares of the company's stock, valued at approximately $17,539,550.70. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
IonQ Trading Down 2.5 %
Shares of NYSE:IONQ opened at $21.27 on Friday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The business has a fifty day simple moving average of $34.47 and a 200 day simple moving average of $25.61. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of -26.26 and a beta of 2.50.
Institutional Trading of IonQ
Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring 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 worth $3,825,000 after acquiring an additional 111,435 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of IonQ during the third quarter worth $1,631,000. Prospera Financial Services Inc raised its holdings in shares of 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 acquiring an additional 25,502 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of 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 in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on IONQ shares. DA Davidson raised IonQ to a "strong-buy" rating in a research note on Thursday, February 20th. Craig Hallum raised their target price on IonQ from $22.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 target price on shares of IonQ in a research report on Thursday, February 27th. Benchmark decreased their target price on IonQ from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group raised their target price on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, IonQ presently has a consensus rating of "Buy" and an average price target of $44.80.
Read Our Latest Research Report on IONQ
About IonQ
(
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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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