Bessemer Venture Partners X. L. Sells 580,125 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $1.63, for a total value of $945,603.75. Following the sale, the insider now owns 19,002,093 shares of the company’s stock, valued at $30,973,411.59. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Rigetti Computing Price Performance

RGTI opened at $1.31 on Wednesday. The stock has a fifty day moving average of $1.05 and a 200-day moving average of $1.02. The firm has a market capitalization of $250.52 million, a P/E ratio of -3.45 and a beta of 2.13. Rigetti Computing, Inc. has a 12-month low of $1.13 and a 12-month high of $1.89. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02.

Institutional Trading of Rigetti Computing

A number of hedge funds have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Rigetti Computing by 275.6% during the third quarter. Barclays PLC now owns 185,959 shares of the company’s stock worth $145,000 after acquiring an additional 136,443 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Rigetti Computing during the third quarter worth $45,000. Geode Capital Management LLC raised its holdings 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 in the last quarter. Jane Street Group LLC raised its holdings in shares of Rigetti Computing by 23.8% during the third quarter. Jane Street Group LLC now owns 244,496 shares of the company’s stock worth $191,000 after acquiring an additional 47,013 shares in the last quarter. Finally, State Street Corp raised its holdings 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 worth $2,126,000 after acquiring an additional 309,831 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

RGTI has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a research report on Wednesday, November 13th. B. Riley increased their price objective on Rigetti Computing from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and issued a $2.50 target price on shares of Rigetti Computing in a report on Thursday, November 14th.

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.