Insider Selling: Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells 1,286,114 Shares of Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the business’s stock in a transaction on Monday, November 11th. The shares were 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 directly owns 19,582,218 shares of the company’s stock, valued at $29,764,971.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Trading Down 2.0 %

Shares of NASDAQ RGTI traded down $0.03 during trading on Tuesday, reaching $1.49. The company had a trading volume of 11,399,626 shares, compared to its average volume of 14,367,848. The stock has a market cap of $284.95 million, a P/E ratio of -2.87 and a beta of 2.13. 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 company’s fifty day moving average price is $0.97 and its 200-day moving average price is $1.01. Rigetti Computing, Inc. has a 12 month low of $1.13 and a 12 month high of $1.69.

Hedge Funds Weigh In On Rigetti Computing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC raised its holdings in 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 purchasing an additional 407,389 shares during the period. Charles Schwab Investment Management Inc. grew its stake in 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 worth $901,000 after acquiring an additional 144,742 shares during the period. SG Americas Securities LLC lifted its position in Rigetti Computing by 166.9% during the 3rd quarter. SG Americas Securities LLC now owns 63,202 shares of the company’s stock worth $49,000 after acquiring an additional 39,526 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Rigetti Computing during the second quarter worth $88,000. Finally, XTX Topco Ltd raised its holdings in Rigetti Computing by 1,121.1% during the second quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock worth $167,000 after purchasing an additional 143,697 shares in the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on RGTI. Needham & Company LLC decreased their price target on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley initiated coverage on shares of Rigetti Computing in a research report on Thursday, July 25th. They issued a “buy” rating and a $3.00 price objective for the company.

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.