IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer Sells 11,712 Shares

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the sale, the chief financial officer now owns 944,510 shares in the company, valued at approximately $17,539,550.70. This trade 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 the SEC website.

IonQ Price Performance

Shares of IONQ opened at $25.16 on Friday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of -31.06 and a beta of 2.50. The firm has a 50 day simple moving average of $34.02 and a 200-day simple moving average of $25.86.

Analyst Ratings Changes

Several equities research analysts have commented on IONQ shares. Craig Hallum boosted their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Benchmark lowered their target price on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. DA Davidson upgraded shares of IonQ to a “strong-buy” rating in a research report on Thursday, February 20th. The Goldman Sachs Group upped their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of IonQ in a report on Thursday, February 27th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $44.80.

Hedge Funds Weigh In On IonQ

Hedge funds have recently bought and sold shares of the stock. LMR Partners LLP acquired a new stake in shares of IonQ during the third quarter valued at $874,000. Prospera Financial Services Inc lifted its holdings in IonQ by 196.1% in the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after purchasing an additional 25,502 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of IonQ during the 3rd quarter worth about $92,000. Intech Investment Management LLC purchased a new stake in shares of IonQ during the third quarter worth about $381,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of IonQ by 9.2% in 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 during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

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.