Rigetti Computing, Inc. (NASDAQ:RGTI) Director Sells $375,000.00 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) Director Michael S. Clifton sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $3.00, for a total value of $375,000.00. Following the completion of the sale, the director now directly owns 1,313,864 shares of the company’s stock, valued at $3,941,592. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Rigetti Computing Trading Up 9.1 %

NASDAQ RGTI opened at $2.40 on Thursday. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $1.19 and a 200 day simple moving average of $1.05. Rigetti Computing, Inc. has a 12 month low of $1.13 and a 12 month high of $3.37. The firm has a market capitalization of $461.52 million, a P/E ratio of -6.32 and a beta of 2.13.

Institutional Trading of Rigetti Computing

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 753,110 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Rigetti Computing by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after buying an additional 407,389 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rigetti Computing by 20.6% in the third quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock valued at $2,837,000 after acquiring an additional 617,506 shares in the last quarter. State Street Corp increased its position in shares of Rigetti Computing by 12.9% during the third quarter. State Street Corp now owns 2,715,223 shares of the company’s stock valued at $2,126,000 after acquiring an additional 309,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $901,000 after acquiring an additional 144,742 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RGTI shares. Benchmark reissued a “buy” rating and issued a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a report on Wednesday, November 13th. Finally, B. Riley upped their target price on shares of Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Monday.

About Rigetti Computing

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.