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

On March 11th, Peter Hume Chapman, an insider of IonQ, Inc. (NYSE:IONQ), engaged in a significant stock transaction, selling 2,000,000 shares of the company's stock. The shares were sold at an average price of $18.72, culminating in a total value of $37,440,000. Following this transaction, Chapman retains ownership of 414,363 shares, which are currently valued at approximately $7,756,875.36. This sale marks an 82.84% reduction in Chapman's stake in IonQ.

Recent Stock Activity

Prior to this large sale, Peter Hume Chapman also sold a smaller quantity of shares. Notably, on December 11th, he sold 13,106 shares at an average price of $29.73, resulting in a total of about $389,641.38.

IonQ's Stock Performance

During trading hours on the same day of the large sale, shares of IonQ saw an increase of $0.41, reaching $18.68. The trading volume reached 17,794,694 shares, exceeding the average volume of 13,951,757. IonQ, Inc. has experienced a low of $6.22 and a high of $54.74 over the past year. The company's market capitalization stands at $4.16 billion, with a PE ratio of -23.06, and a beta of 2.50.

Institutional Investors and Hedge Funds

In the recent quarters, several large investors have adjusted their positions in IonQ stock. For instance, Pathway Financial Advisers LLC made a new investment, purchasing shares worth $26,000 in the fourth quarter. Meanwhile, Smartleaf Asset Management LLC increased their holdings by 421.0%, acquiring additional shares to own a total of 620 shares valued at $27,000. Other notable purchases include investments from Measured Risk Portfolios Inc. ($27,000), TD Waterhouse Canada Inc. ($33,000), and Golden State Wealth Management LLC ($34,000). As a result, institutional investors now collectively own 41.42% of the stock.

Analyst Ratings and Forecasts

Wall Street analysts have recently shared their insights on IonQ stock. Craig Hallum raised their price target from $22.00 to $45.00 and categorized it as a buy. Benchmark modified their target from $50.00 to $45.00, also issuing a buy rating. Needham & Company LLC reiterated a buy rating with a target price of $54.00. Additionally, Goldman Sachs upped their target from $16.00 to $30.00, maintaining a neutral stance. A total of one analyst recommended holding, three analysts rated it as a buy, and another issued a strong buy rating. Overall, MarketBeat.com indicates that the average analyst rating for IonQ is a buy, with a consensus price target of $44.80.

About IonQ, Inc.

IonQ, Inc. is involved in developing general-purpose quantum computing systems in the United States. The company provides access to quantum computers with varying qubit capacities through cloud platforms, including Amazon Web Services (AWS), Microsoft's Azure Quantum, and Google's Cloud Marketplace. This innovation places IonQ at the forefront of quantum technology.

Conclusion

With recent insider trades and analyst recommendations, IonQ remains a focal point in the quantum computing sector. Investors and those interested in technology trends should keep a close eye on future developments surrounding the company.

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