Insider Selling: IonQ, Inc. (NYSE:IONQ) Insider Sells 2,000,000 Shares of Stock

On March 11th, Peter Hume Chapman, an insider at IonQ, Inc. (NYSE:IONQ), sold 2,000,000 shares of the company’s stock. This transaction was completed at an average price of $18.72 per share, totaling $37,440,000. Following this sale, Chapman retains ownership of 414,363 shares, which are valued at approximately $7,756,875. This sale marks a significant 82.84% decrease in his ownership stake of IonQ. The details of this transaction were made public through a legal filing submitted to the SEC, which is accessible for further information.

In addition to the recent large transaction, Chapman also sold 13,106 shares of IonQ on December 11th at an average price of $29.73, amounting to $389,641.38.

IonQ Price Performance

On the trading day of the insider sale, IonQ shares increased by $0.41 to reach $18.68. The trading volume saw 17,794,694 shares exchanged, notably higher than its average trading volume of 13,951,757 shares. Over the past year, the stock has experienced a low of $6.22 and a high of $54.74. The company's 50-day simple moving average stands at $35.31, while the 200-day simple moving average is at $25.67. IonQ currently holds a market capitalization of $4.16 billion and has a PE ratio of -23.06, indicating that the company is not currently generating profit. Furthermore, IonQ’s beta is 2.50, reflecting higher volatility compared to the market.

Hedge Funds' Interest in IonQ

Several large investors have recently adjusted their positions in IonQ stock. For instance, Pathway Financial Advisers LLC acquired a new position worth $26,000 during the fourth quarter. Smartleaf Asset Management LLC expanded its stake by 421.0%, holding a total of 620 shares valued at approximately $27,000 after adding 501 shares. Other firms that purchased shares include Measured Risk Portfolios Inc. with a stake worth $27,000, TD Waterhouse Canada Inc. ($33,000), and Golden State Wealth Management LLC ($34,000). It is noted that institutional investors collectively own about 41.42% of the company's shares.

Analyst Opinions on IonQ

Market analysts have offered various perspectives on IonQ’s stock. Craig Hallum recently raised its price target for IonQ from $22.00 to $45.00 and gave it a “buy” rating. Benchmark also decreased its target from $50.00 to $45.00, maintaining a “buy” rating. Needham & Company LLC confirmed a “buy” rating with a target price of $54.00. The Goldman Sachs Group increased their target from $16.00 to $30.00, suggesting a “neutral” rating. DA Davidson has upgraded IonQ to a “strong-buy” status. Overall, the consensus indicates a strong buy signal, with one analyst rating it as hold, three as buy, and one as strong buy, reflecting an average target price of $44.80, based on data from MarketBeat.com.

About IonQ, Inc.

IonQ, Inc. is engaged in developing quantum computing systems available for various business applications in the United States. The company provides access to its quantum computers through several cloud platforms, including Amazon Web Services (AWS), Microsoft Azure Quantum, Google Cloud Marketplace, among other services available to users.

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