Insider sales and option exercises disclosed
Robert T. Cardillo, who serves as Executive Chair of IonQ Federal and is a director at IonQ, Inc. (NYSE: IONQ), reported multiple transactions in the company’s common stock at the end of February. According to a Form 4 filing with the Securities and Exchange Commission, Cardillo sold 5,165 shares on February 26 at prices ranging from $39.00 to $39.90, generating proceeds of $203,684. That same filing shows he exercised options to acquire 2,500 shares at an exercise price of $11.24, for a total outlay of $28,100.
Planned trading and tax-related disposition
The Form 4 indicates the February 26 sale was executed under a pre-arranged Rule 10b5-1 trading plan. On February 27 Cardillo sold an additional 3,071 shares at prices between $38.1392 and $39.20, bringing in $120,359. That later sale was disclosed as a disposition to cover tax obligations tied to the vesting of restricted stock units.
Post-transaction holdings and share performance
Following these actions, Cardillo directly owns 109,220 shares of IonQ common stock. The company’s shares have returned 56% over the past year, though they are reported to be trading at $38.37 at the time of the filing, below recent highs.
Company financial snapshot and recent operational news
IonQ is described as having a market valuation of $14 billion and a balance sheet that holds more cash than debt, even as the company has not yet achieved profitability. In its most recent reporting, IonQ recorded fourth-quarter 2025 revenue of $61.9 million, a sequential increase of 55.2% that exceeded analysts’ expectation of $40.4 million. Company disclosures attribute the revenue gain to diversification across its product portfolio.
Additional corporate filings show IonQ has submitted a prospectus supplement with the Securities and Exchange Commission to enable the resale of more than 5.1 million shares of common stock by certain selling stockholders. Operationally, IonQ announced the rollout of a quantum network across Romania’s infrastructure. That deployment comprises 36 quantum-secured links stretching over 1,500 kilometers and connecting six metropolitan areas, and was presented as one of Europe’s largest operational quantum key distribution networks.
Analyst updates
Several brokerages adjusted their price targets and reiterated ratings following recent developments. Benchmark reduced its price target to $65 from $75 while maintaining a Buy rating, citing concerns about revenue mix even as it noted meaningful growth in IonQ’s core computing business. Morgan Stanley moved its target up to $37 from $35 and kept an Equalweight rating, highlighting what it described as impressive organic and inorganic growth. Needham lowered its price target to $65 from $80, maintained a Buy rating and pointed to sector compression as a factor.
What the filings and results show
The disclosures present a mixture of insider liquidity events and continued top-line expansion for IonQ. Cardillo’s sales, the option exercise and the tax-related disposition are documented in SEC filings consistent with a scheduled trading plan and employee equity activity. At the same time, the company’s quarterly revenue beat and the announced network deployment in Romania are part of the operational and commercial developments disclosed by IonQ.
Limitation: The article reports only the transactions and company statements disclosed in filings and public releases. It does not attempt to infer motives beyond the descriptions provided in those disclosures.