Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Bessemer Venture Partners X. L. Sells 713,886 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $1.52, for a total transaction of $1,085,106.72. Following the sale, the insider now owns 20,868,332 shares of the company’s stock, valued at approximately $31,719,864.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Stock Down 2.0 %

RGTI stock opened at $1.49 on Wednesday. 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 firm’s 50-day simple moving average is $0.97 and its 200 day simple moving average is $1.01. The stock has a market cap of $284.95 million, a PE ratio of -2.87 and a beta of 2.13. Rigetti Computing, Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $1.69.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. B. Riley began coverage on shares of Rigetti Computing in a report on Thursday, July 25th. They issued a “buy” rating and a $3.00 price target for the company. Needham & Company LLC decreased their target price on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Institutional Investors Weigh In On Rigetti Computing

Several large investors have recently made changes to their positions in RGTI. Vanguard Group Inc. boosted its position in shares of Rigetti Computing by 17.0% during the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock worth $7,933,000 after buying an additional 753,110 shares during the period. Penserra Capital Management LLC boosted its position in Rigetti Computing by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after acquiring an additional 407,389 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Rigetti Computing by 3,788.5% in the second quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock worth $439,000 after purchasing an additional 400,143 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Rigetti Computing during the second quarter valued at $161,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Rigetti Computing by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock valued at $901,000 after purchasing an additional 144,742 shares in the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

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.