IonQ, Inc. (NYSE:IONQ) CEO Masi Niccolo De Sells 2,597,500 Shares of Stock

IonQ, Inc. (NYSE:IONQ) CEO Masi Niccolo De sold 2,597,500 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.34, for a total value of $104,783,150.00. Following the completion of the transaction, the chief executive officer now owns 711,987 shares in the company, valued at $28,721,555.58. This represents a 78.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was 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. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The business’s 50 day moving average is $33.19 and its two-hundred day moving average is $33.37. The company has a market cap of $8.42 billion, a PE ratio of -46.65 and a beta of 2.59.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) earnings per share. As a group, equities analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IONQ shares. DA Davidson dropped their price objective on IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley increased their price target on IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Benchmark increased their price target on IonQ from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of IonQ in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Institutional Investors Weigh In On IonQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. Entropy Technologies LP bought a new position in IonQ in the fourth quarter worth $420,000. Stephens Inc. AR bought a new position in IonQ in the fourth quarter worth $936,000. Essex Financial Services Inc. lifted its position in IonQ by 68.0% in the fourth quarter. Essex Financial Services Inc. now owns 18,709 shares of the company’s stock worth $781,000 after purchasing an additional 7,571 shares during the period. Gladstone Institutional Advisory LLC bought a new position in IonQ in the fourth quarter worth $434,000. Finally, Allspring Global Investments Holdings LLC bought a new position in IonQ in the fourth quarter worth $237,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

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.