ionQ CEO Niccolo de Masi sells $391,894 in common stock

IonQ, Inc. (NYSE:IONQ) President and CEO Niccolo de Masi has sold shares of the company’s common stock, according to a recent SEC filing. On June 9, de Masi sold 9,280 shares at a price of $42.23 per share, amounting to a total transaction value of $391,894. The transaction comes as IonQ’s stock has shown remarkable performance, with a 405% return over the past year and a current market capitalization of $10.37 billion, according to InvestingPro data.

Following this transaction, de Masi holds 711,987 shares directly. Additionally, he has indirect ownership of 2,597,500 shares through Isalea Investments LP, where he holds voting and investment discretion. The company maintains strong financial health with a current ratio of 13.17, though InvestingPro analysis indicates it remains unprofitable with significant revenue growth of 70% in the last twelve months.

The filing notes that the sale was made to cover statutory tax withholding obligations related to the vesting of restricted stock units and was not a discretionary sale by de Masi. Given IonQ’s high price volatility, investors can access detailed analysis and 14 additional key insights through InvestingPro’s comprehensive research reports.

In other recent news, IonQ, Inc. announced a definitive agreement to acquire UK-based Oxford Ionics for $1.075 billion, comprising $1.065 billion in IonQ common stock and about $10 million in cash. This acquisition is expected to enhance IonQ’s technology portfolio by integrating Oxford Ionics’ ion-trap-on-chip architecture, strengthening IonQ’s position in the quantum computing sector. Benchmark analysts have responded by raising IonQ’s stock price target to $50 from $40, maintaining a Buy rating. Additionally, IonQ has completed its acquisition of Lightsynq Technologies, issuing over 12 million shares of common stock as part of the transaction.

IonQ has also filed a prospectus supplement with the SEC to facilitate the resale of over 900,000 shares of its common stock. This filing is part of the company’s compliance with SEC regulations. In another strategic move, IonQ has partnered with the Korea Institute of Science and Technology Information (KISTI) to integrate quantum computing into South Korea’s high-performance computing infrastructure. This collaboration aims to enhance research, foster talent, and expand market opportunities in the region.

IonQ’s CEO, Niccolo de Masi, expressed enthusiasm for the Oxford Ionics acquisition, highlighting the potential to set new standards in quantum computing. The company continues to expand its presence and capabilities in the global quantum computing market.

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