Kingsview Wealth Management LLC Sells 3,962 Shares of IonQ, Inc. (NYSE:IONQ)

Kingsview Wealth Management LLC cut its holdings in IonQ, Inc. (NYSE:IONQ) by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,362 shares of the company’s stock after selling 3,962 shares during the period. Kingsview Wealth Management LLC’s holdings in IonQ were worth $308,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in IonQ in the fourth quarter worth $34,000. City State Bank bought a new stake in IonQ in the fourth quarter worth $36,000. Versant Capital Management Inc lifted its stake in 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 purchasing an additional 890 shares during the last quarter. Spire Wealth Management lifted its stake in IonQ by 406.3% in the fourth quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $40,000 after purchasing an additional 772 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of IonQ during the fourth quarter valued at about $42,000. 41.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IONQ shares. Needham & Company LLC upped their price objective on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Craig Hallum upped their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, December 20th. DA Davidson started coverage on shares of IonQ in a research note on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Benchmark upped their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

IonQ Price Performance

IONQ stock opened at $37.47 on Friday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $54.74. The company has a market cap of $8.11 billion, a P/E ratio of -46.26 and a beta of 2.40. The firm has a 50-day moving average of $39.70 and a 200 day moving average of $22.89.

Insider Buying and Selling

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value 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. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Hume Chapman sold 13,106 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the completion of the sale, the chief executive officer now owns 414,363 shares in the company, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their position. 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 over the last three months. Corporate insiders own 11.60% of the company’s stock.

IonQ Company 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.