IonQ, Inc. (NYSE:IONQ) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC reduced its holdings in IonQ, Inc. (NYSE:IONQ) by 91.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,986 shares of the company’s stock after selling 31,717 shares during the quarter. Wolverine Asset Management LLC’s holdings in IonQ were worth $125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IONQ. Pathway Financial Advisers LLC bought a new position in IonQ during the 4th quarter valued at $26,000. Golden State Wealth Management LLC bought a new position in IonQ during the 4th quarter valued at $34,000. City State Bank bought a new position in IonQ during the 4th quarter valued at $36,000. Hemington Wealth Management bought a new position in IonQ during the 4th quarter valued at $37,000. Finally, Versant Capital Management Inc boosted its stake in IonQ by 1,348.5% during the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

IonQ Stock Down 1.6 %

Shares of IonQ stock opened at $31.25 on Tuesday. The stock has a market cap of $6.76 billion, a PE ratio of -38.58 and a beta of 2.40. The business has a fifty day simple moving average of $39.68 and a 200-day simple moving average of $24.44. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction on Wednesday, December 11th. The stock was 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 of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % 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 over the last quarter. Company insiders own 11.60% of the company’s stock.

Wall Street Analysts Forecast Growth

IONQ has been the subject of a number of research reports. 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. Craig Hallum raised their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group raised 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. Benchmark raised their price objective on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $33.00.

About IonQ

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.