D.A. Davidson & CO. Sells 9,996 Shares of IonQ, Inc. (NYSE:IONQ)

D.A. Davidson & CO. cut its holdings in IonQ, Inc. (NYSE:IONQ) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,572 shares of the company’s stock after selling 9,996 shares during the period. D.A. Davidson & CO.’s holdings in IonQ were worth $3,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ in the 4th quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new stake in shares of IonQ in the 4th quarter valued at about $34,000. City State Bank acquired a new stake in shares of IonQ in the 4th quarter valued at about $36,000. Hemington Wealth Management acquired a new stake in shares of IonQ in the 4th quarter valued at about $37,000. Finally, Versant Capital Management Inc grew its stake in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after buying an additional 890 shares during the period. 41.42% of the stock is owned by institutional investors.

IonQ Stock Down 1.2 %

Shares of NYSE IONQ opened at $33.73 on Friday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The stock’s 50 day moving average price is $39.93 and its 200-day moving average price is $23.85. The company has a market capitalization of $7.30 billion, a PE ratio of -41.64 and a beta of 2.40.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IONQ. Benchmark lifted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price target for the company. The Goldman Sachs Group lifted their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Needham & Company LLC lifted their price target on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the sale, the executive now owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock worth $1,314,652 in the last 90 days. Insiders own 11.60% of the company’s stock.

IonQ 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.