Maverick Capital Ltd Sells 164,824 Shares of Infleqtion (NYSE:INFQ) Stock

Infleqtion (NYSE:INFQ) Director Maverick Capital Ltd sold 164,824 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $13.02, for a total transaction of $2,146,008.48. Following the completion of the sale, the director owned 1,381,233 shares in the company, valued at approximately $17,983,653.66. This trade represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Maverick Capital Ltd also recently made the following trade(s):

• On Wednesday, August 19th, Maverick Capital Ltd sold 33,405 shares of Infleqtion stock. The shares were sold at an average price of $12.62, for a total value of $421,571.10.
• On Thursday, August 13th, Maverick Capital Ltd sold 1,609 shares of Infleqtion stock. The shares were sold at an average price of $12.19, for a total transaction of $19,613.71.
• On Tuesday, August 11th, Maverick Capital Ltd sold 1,079 shares of Infleqtion stock. The stock was sold at an average price of $11.82, for a total transaction of $12,753.78.
• On Monday, August 10th, Maverick Capital Ltd sold 5,488 shares of Infleqtion stock. The stock was sold at an average price of $11.69, for a total value of $64,154.72.
• On Friday, August 7th, Maverick Capital Ltd sold 6,346 shares of Infleqtion stock. The stock was sold at an average price of $11.87, for a total value of $75,327.02.
• On Thursday, August 6th, Maverick Capital Ltd sold 8,057 shares of Infleqtion stock. The shares were sold at an average price of $11.09, for a total transaction of $89,352.13.
• On Wednesday, August 5th, Maverick Capital Ltd sold 1,324 shares of Infleqtion stock. The stock was sold at an average price of $10.88, for a total transaction of $14,405.12.
• On Tuesday, August 4th, Maverick Capital Ltd sold 28,168 shares of Infleqtion stock. The stock was sold at an average price of $11.44, for a total transaction of $322,241.92.
• On Friday, August 14th, Maverick Capital Ltd purchased 52,071 shares of Infleqtion stock. The shares were bought at an average cost of $12.42 per share, with a total value of $646,721.82.
• On Friday, May 29th, Maverick Capital Ltd sold 1,797,637 shares of Infleqtion stock. The shares were sold at an average price of $16.10, for a total value of $28,941,955.70.

Infleqtion Stock Up 12.2%

NYSE:INFQ traded up $1.53 during midday trading on Friday, hitting $14.08. The stock had a trading volume of 15,330,819 shares, compared to its average volume of 9,503,794. Infleqtion has a one year low of $8.52 and a one year high of $27.50. The company’s 50-day simple moving average is $11.78.

Infleqtion (NYSE:INFQ) last posted its earnings results on Wednesday, August 12th. The quantum tech company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The business had revenue of $13.54 million for the quarter. On average, sell-side analysts anticipate that Infleqtion will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INFQ has been the subject of a number of research analyst reports. Weiss Ratings assumed coverage on shares of Infleqtion in a report on Wednesday, May 27th. They issued a “sell (d)” rating for the company. Wall Street Zen cut Infleqtion from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 18th. Canaccord Genuity Group initiated coverage on Infleqtion in a research note on Thursday, July 2nd. They set a “buy” rating and a $22.00 price target on the stock. UBS Group assumed coverage on Infleqtion in a research note on Wednesday, April 29th. They issued a “buy” rating for the company. Finally, Craig Hallum assumed coverage on Infleqtion in a report on Wednesday, July 22nd. They set a “buy” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Institutional Trading of Infleqtion

A number of hedge funds have recently added to or reduced their stakes in the company. Secure Asset Management LLC purchased a new stake in shares of Infleqtion during the 2nd quarter worth about $847,000. Wellington Management Group LLP purchased a new position in shares of Infleqtion in the 2nd quarter valued at about $3,708,000. Bank of New York Mellon Corp raised its holdings in Infleqtion by 1,350.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,076,802 shares of the quantum tech company’s stock worth $14,343,000 after purchasing an additional 1,002,576 shares during the period. Davis Asset Management L.P. acquired a new position in Infleqtion in the 2nd quarter worth about $27,783,000. Finally, S&G Foundation purchased a new position in Infleqtion during the second quarter worth approximately $154,164,000.

About Infleqtion

We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.