D.A. Davidson & CO. Decreases Holdings in IonQ, Inc. (NYSE:IONQ)

D.A. Davidson & CO. decreased its holdings in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 10.6% in the 4th quarter, according to its most recent Form 13F 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 quarter. D.A. Davidson & CO.'s holdings in IonQ were worth $3,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new position in IonQ in the fourth quarter worth $26,000. Golden State Wealth Management LLC purchased a new stake in shares of IonQ in the fourth quarter worth $34,000. City State Bank purchased a new stake in shares of IonQ in the fourth quarter worth $36,000. Hemington Wealth Management purchased a new stake in shares of IonQ in the fourth quarter worth $37,000. Finally, Versant Capital Management Inc grew its stake in shares of IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company's stock worth $40,000 after acquiring an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IONQ. Benchmark increased their price objective on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Needham & Company LLC raised their price objective on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. DA Davidson raised IonQ to a "strong-buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group lifted their price objective on IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, IonQ presently has a consensus rating of "Buy" and an average target price of $33.00.

IonQ Trading Down 6.0 %

Shares of IONQ traded down $2.01 during trading hours on Friday, hitting $31.74. The company had a trading volume of 15,720,912 shares, compared to its average volume of 27,504,479. The company's fifty day moving average price is $39.93 and its two-hundred day moving average price is $23.85. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The company has a market capitalization of $6.87 billion, a PE ratio of -39.18 and a beta of 2.40.

Insider Activity at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the sale, the chief financial officer now owns 926,114 shares in the company, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Hume Chapman sold 13,106 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $389,641.38. Following the sale, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock valued at $1,314,652 in the last ninety days. Corporate 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.