D.A. Davidson & CO. Has $3.53 Million Position in IonQ, Inc. (NYSE:IONQ)

D.A. Davidson & CO. lowered its stake in shares of IonQ, Inc. (NYSE:IONQ) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in shares of IonQ by 15.2% in the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock valued at $116,000 after purchasing an additional 363 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ in the 4th quarter valued at $26,000. Spire Wealth Management boosted its holdings in shares of IonQ by 406.3% in the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after purchasing an additional 772 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of IonQ in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Buying and Selling

In related news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,223 shares of company stock valued at $1,314,652 in the last three months. Insiders own 11.60% of the company’s stock.

IonQ Stock Down 1.2 %

Shares of NYSE:IONQ opened at $33.73 on Friday. The firm has a market cap of $7.30 billion, a P/E ratio of -41.64 and a beta of 2.40. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The business has a fifty day simple moving average of $39.93 and a 200 day simple moving average of $23.85.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IONQ shares. The Goldman Sachs Group raised their target price on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Needham & Company LLC increased 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. DA Davidson began coverage on IonQ in a research note on Thursday, December 19th. They issued a “buy” rating and a $50.00 price target for the company. Craig Hallum increased 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. Finally, Benchmark increased 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.00.

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.