Key Points
- CTO David Rivas sold 36,719 shares on March 10 at an average price of $17.52 for about $643,316, reducing his holdings by 5.33% to 651,914 shares valued at roughly $11.42M (SEC Form 4 filed).
- Stock and results: RGTI recently traded near $16.44 with a $5.43B market cap; the company reported Q4 EPS of ($0.03) that beat estimates but revenue of $1.87M missed expectations and was down 17.9% year‑over‑year.
- Analyst sentiment is mixed but leans positive with an average rating of "Moderate Buy" and an average target price of $32.70 amid several recent price-target cuts and rating changes.
Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) CFO Jeffrey Bertelsen sold 4,270 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $74,810.40. Following the completion of the sale, the chief financial officer directly owned 175,609 shares in the company, valued at approximately $3,076,669.68. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Rigetti Computing Stock Performance
Shares of RGTI stock traded down $0.93 during midday trading on Thursday, hitting $16.01. 7,682,485 shares of the company were exchanged, compared to its average volume of 30,638,879. The firm's 50 day moving average price is $19.93 and its two-hundred day moving average price is $25.88. Rigetti Computing, Inc. has a 52 week low of $6.86 and a 52 week high of $58.15. The firm has a market capitalization of $5.28 billion, a P/E ratio of -23.53 and a beta of 1.71.
Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $1.87 million for the quarter, compared to analysts' expectations of $2.33 million. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. Analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its position in shares of Rigetti Computing by 106.2% during the first quarter. Royal Bank of Canada now owns 220,701 shares of the company's stock valued at $1,748,000 after buying an additional 113,644 shares during the period. AQR Capital Management LLC grew its position in Rigetti Computing by 138.9% in the first quarter. AQR Capital Management LLC now owns 81,047 shares of the company's stock worth $642,000 after acquiring an additional 47,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Rigetti Computing by 25.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company's stock valued at $890,000 after acquiring an additional 22,770 shares during the last quarter. NewEdge Advisors LLC raised its position in Rigetti Computing by 197.8% during the first quarter. NewEdge Advisors LLC now owns 25,592 shares of the company's stock valued at $203,000 after purchasing an additional 16,998 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Rigetti Computing during the first quarter worth about $3,115,000. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on RGTI. Weiss Ratings reissued a "sell (d-)" rating on shares of Rigetti Computing in a research note on Monday, December 29th. Wall Street Zen lowered Rigetti Computing from a "hold" rating to a "sell" rating in a report on Saturday, February 21st. B. Riley Financial raised shares of Rigetti Computing from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research report on Thursday, January 22nd. Jefferies Financial Group initiated coverage on shares of Rigetti Computing in a research report on Tuesday, December 16th. They issued a "hold" rating and a $30.00 price target on the stock. Finally, Benchmark cut their price target on Rigetti Computing from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Rigetti Computing currently has a consensus rating of "Moderate Buy" and an average target price of $32.70.
Read Our Latest Research Report on RGTI
Rigetti Computing Company Profile
(
Get Free Report)
Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.
At the core of Rigetti's offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.
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