Insider Selling: Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells 1,286,114 Shares of Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1.52, for a total transaction of $1,954,893.28. Following the completion of the transaction, the insider now directly owns 19,582,218 shares in the company, valued at approximately $29,764,971.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Price Performance

NASDAQ:RGTI opened at $1.49 on Wednesday. The stock has a market cap of $284.95 million, a PE ratio of -2.87 and a beta of 2.13. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $0.97 and its two-hundred day simple moving average is $1.01. Rigetti Computing, Inc. has a 52 week low of $1.13 and a 52 week high of $1.69.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Rigetti Computing during the second quarter valued at approximately $25,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in Rigetti Computing in the 2nd quarter valued at $27,000. Cetera Advisors LLC purchased a new stake in Rigetti Computing in the 1st quarter worth $38,000. PEAK6 Investments LLC bought a new position in shares of Rigetti Computing during the 1st quarter valued at about $40,000. Finally, Caprock Group LLC purchased a new position in shares of Rigetti Computing during the second quarter valued at about $42,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RGTI. B. Riley assumed coverage on Rigetti Computing in a research report on Thursday, July 25th. They issued a “buy” rating and a $3.00 price target for the company. Needham & Company LLC reduced their target price on shares of Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Rigetti Computing Company Profile

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.