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

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 11,712 shares of the business’s 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 transaction, the chief financial officer now owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

IonQ Stock Performance

NYSE IONQ opened at $25.16 on Friday. The company has a market capitalization of $5.61 billion, a P/E ratio of -31.06 and a beta of 2.50. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The stock has a 50 day moving average price of $34.02 and a 200-day moving average price of $25.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IONQ. Pathway Financial Advisers LLC bought a new position in shares of IonQ during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its holdings in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after buying an additional 501 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in IonQ during the 4th quarter valued at $27,000. TD Waterhouse Canada Inc. purchased a new stake in IonQ during the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in IonQ during the 4th quarter valued at $34,000. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IONQ shares. Craig Hallum boosted their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark dropped their price target on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. 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 research note on Friday, January 10th. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IonQ has an average rating of “Buy” and an average price target of $44.80.

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.