Masi Niccolo De Sells 16,120 Shares of IonQ (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) CEO Masi Niccolo De sold 16,120 shares of IonQ stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the transaction, the chief executive officer directly owned 1,181,186 shares in the company, valued at $52,444,658.40. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

IonQ Price Performance

Shares of IONQ stock opened at $55.72 on Friday. The firm’s 50-day moving average is $42.33 and its two-hundred day moving average is $35.06. IonQ, Inc. has a 12 month low of $7.40 and a 12 month high of $56.07. The company has a market capitalization of $16.54 billion, a PE ratio of -27.72 and a beta of 2.54.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.57). The firm had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.IonQ’s revenue for the quarter was up 81.6% on a year-over-year basis. During the same period last year, the firm earned ($0.18) earnings per share. Sell-side analysts forecast that IonQ, Inc. will post -0.86 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IONQ. Vanguard Group Inc. grew its holdings in shares of IonQ by 15.2% in the second quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company’s stock valued at $1,064,257,000 after purchasing an additional 3,269,482 shares in the last quarter. Norges Bank acquired a new position in IonQ during the 2nd quarter worth approximately $114,767,000. JPMorgan Chase & Co. grew its holdings in IonQ by 648.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock worth $114,917,000 after acquiring an additional 2,317,058 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in IonQ by 262.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after acquiring an additional 930,490 shares in the last quarter. Finally, Amazon Com Inc. acquired a new position in IonQ during the 2nd quarter worth approximately $36,705,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IONQ. Sanford C. Bernstein began coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a “market perform” rating on the stock. Rosenblatt Securities began coverage on shares of IonQ in a research note on Tuesday, July 29th. They issued a “buy” rating and a $70.00 price target on the stock. Oppenheimer began coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued an “outperform” rating on the stock. Needham & Company LLC reissued a “buy” rating on shares of IonQ in a research note on Monday, August 4th. Finally, Wolfe Research began coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a “peer perform” rating on the stock. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.78.

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.