DLK Investment Management LLC Has $858,000 Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

DLK Investment Management LLC lessened its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 56,251 shares of the company’s stock after selling 1,999 shares during the period. DLK Investment Management LLC’s holdings in Rigetti Computing were worth $858,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. LVW Advisors LLC bought a new stake in Rigetti Computing during the fourth quarter worth $305,000. Arkadios Wealth Advisors acquired a new position in shares of Rigetti Computing during the 4th quarter worth $1,624,000. Greenhouse Wealth Management LLC bought a new stake in shares of Rigetti Computing during the 4th quarter worth $223,000. Sovereign Financial Group Inc. bought a new stake in shares of Rigetti Computing during the 4th quarter worth $215,000. Finally, Silverleafe Capital Partners LLC bought a new position in Rigetti Computing in the fourth quarter valued at about $554,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Stock Down 12.5 %

NASDAQ:RGTI opened at $9.83 on Monday. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $21.42. The firm’s 50 day simple moving average is $7.79 and its 200 day simple moving average is $3.35.

Insider Activity

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.03, for a total transaction of $628,750.00. Following the completion of the transaction, the director now owns 1,063,864 shares in the company, valued at approximately $5,351,235.92. This trade represents a 10.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 owns 19,582,218 shares in the company, valued at $29,764,971.36. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,955,125 shares of company stock valued at $5,489,354.

Analyst Ratings Changes

RGTI has been the subject of a number of research reports. Benchmark reissued a “buy” rating and issued a $2.50 target price on shares of Rigetti Computing in a report on Thursday, November 14th. B. Riley increased 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, January 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a research note on Wednesday, November 13th. Finally, Craig Hallum began coverage on Rigetti Computing in a research note on Friday, December 20th. They issued a “buy” rating and a $12.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.70.

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.