Polianta Ltd Invests $1.37 Million in Rigetti Computing, Inc. $RGTI

Polianta Ltd bought a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 61,800 shares of the company’s stock, valued at approximately $1,368,000.

Several other hedge funds have also recently added to or reduced their stakes in RGTI. Danske Bank A S acquired a new position in Rigetti Computing during the 3rd quarter worth approximately $30,000. Parallel Advisors LLC increased its position in shares of Rigetti Computing by 403.2% in the 3rd quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock valued at $32,000 after purchasing an additional 871 shares during the last quarter. Clearstead Advisors LLC acquired a new stake in shares of Rigetti Computing in the 3rd quarter valued at $35,000. Ancora Advisors LLC acquired a new stake in shares of Rigetti Computing in the 3rd quarter valued at $38,000. Finally, Fifth Third Bancorp lifted its position in shares of Rigetti Computing by 13,960.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,406 shares of the company’s stock worth $42,000 after purchasing an additional 1,396 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Trading Down 3.2%

Shares of Rigetti Computing stock opened at $12.90 on Tuesday. The company has a fifty day simple moving average of $17.43 and a 200-day simple moving average of $25.91. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -18.97 and a beta of 1.72. Rigetti Computing, Inc. has a 12-month low of $6.86 and a 12-month high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly 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. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The firm had revenue of $1.87 million for the quarter, compared to analyst estimates of $2.33 million. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. On average, analysts forecast that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RGTI. Wedbush boosted their target price on shares of Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. B. Riley Financial raised Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Thursday, January 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Rigetti Computing in a research report on Thursday, March 5th. Jefferies Financial Group started coverage on Rigetti Computing in a report on Tuesday, December 16th. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, TD Cowen lowered Rigetti Computing from a “buy” rating to a “hold” rating in a research report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.70.

Insider Transactions at Rigetti Computing

In related news, CTO David Rivas sold 36,719 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88. Following the transaction, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. This trade represents a 5.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $74,810.40. Following the transaction, the chief financial officer directly owned 175,609 shares in the company, valued at approximately $3,076,669.68. This trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing.

Rigetti Computing Profile

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.