Greenhouse Wealth Management LLC Acquires Shares of 14,611 Rigetti Computing, Inc. (NASDAQ:RGTI)

Greenhouse Wealth Management LLC bought a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, HoldingsChannel.com reports. The fund bought 14,611 shares of the company’s stock, valued at approximately $223,000.

A number of other large investors also recently modified their holdings of RGTI. Silverleafe Capital Partners LLC acquired a new stake in shares of Rigetti Computing in the fourth quarter valued at approximately $554,000. State Street Corp boosted its position in Rigetti Computing by 12.9% in the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock valued at $2,126,000 after buying an additional 309,831 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Rigetti Computing by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock valued at $901,000 after buying an additional 144,742 shares during the period. Geode Capital Management LLC raised its position in shares of Rigetti Computing by 20.6% during the third quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after acquiring an additional 617,506 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Rigetti Computing by 275.6% during the third quarter. Barclays PLC now owns 185,959 shares of the company’s stock valued at $145,000 after acquiring an additional 136,443 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Rigetti Computing Trading Up 2.7 %

Rigetti Computing stock opened at $11.24 on Friday. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. 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 company has a 50 day moving average of $7.43 and a 200-day moving average of $3.22.

Insider Buying and Selling

In related news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $4.00, for a total value of $500,000.00. Following the sale, the director now owns 1,188,864 shares of the company’s stock, valued at approximately $4,755,456. This trade represents a 9.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $1.52, for a total value of $1,954,893.28. Following the completion of the sale, the insider now owns 19,582,218 shares in the company, valued at $29,764,971.36. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,955,125 shares of company stock valued at $5,489,354.

Analysts Set New Price Targets

Several brokerages have weighed in on RGTI. Benchmark reissued a “buy” rating and set a $2.50 price objective on shares of Rigetti Computing in a report on Thursday, November 14th. Craig Hallum assumed coverage on shares of Rigetti Computing in a research note on Friday, December 20th. They set a “buy” rating and a $12.00 price target for the company. B. Riley raised their price objective on shares of Rigetti Computing from $4.00 to $8.50 and gave the company a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rigetti Computing presently has a consensus rating of “Buy” and a consensus price target of $5.70.

Rigetti Computing 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.