Rigetti Computing (NASDAQ:RGTI) Shares Down 5.1% After Insider Selling

Rigetti Computing, Inc. (NASDAQ:RGTI) shares traded down 5.1% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $23.72 and last traded at $25.07. 88,159,800 shares changed hands during trading, an increase of 164% from the average session volume of 33,424,715 shares. The stock had previously closed at $26.42.

Specifically, CTO David Rivas sold 18,759 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $22.96, for a total value of $430,706.64. Following the sale, the chief technology officer directly owned 713,155 shares in the company, valued at $16,374,038.80. This represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $22.95, for a total transaction of $84,501.90. Following the completion of the sale, the chief financial officer directly owned 171,927 shares in the company, valued at $3,945,724.65. This represents a 2.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Mizuho decreased their price target on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. TD Cowen cut Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Wall Street Zen raised Rigetti Computing from a “sell” rating to a “hold” rating in a research note on Saturday. Northland Securities initiated coverage on Rigetti Computing in a report on Monday, April 20th. They issued a “market perform” rating and a $20.00 price objective for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Rigetti Computing in a report on Thursday, March 5th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.18.

Key Stories Impacting Rigetti Computing

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rigetti is benefiting from news that the federal government plans to provide hundreds of millions of dollars to support domestic quantum foundry and technology development, reinforcing the company’s strategic role in U.S. quantum computing efforts. Quantum Stocks Just Got a Lifeline—Who Benefits Most? (RGTI)
• Positive Sentiment: The stock saw unusually heavy call-option buying, suggesting traders are positioning for more upside and adding to the recent momentum in shares. Rigetti Computing Sees Unusually High Options Volume (NASDAQ:RGTI)
• Positive Sentiment: Rigetti has also been highlighted as one of last week’s biggest movers, with the stock posting a sharp weekly gain alongside other speculative names, which can attract momentum-focused investors. BB, SIDU, RGTI Stocks Lead Last Week’s Wildest Upswings: Here’s What Happened
• Neutral Sentiment: Broader media attention is also increasing, with articles comparing Rigetti to peers and noting that investors are heavily searching for the stock. This reflects heightened interest, though it does not by itself change fundamentals. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Neutral Sentiment: Competitive commentary remains mixed: a Zacks comparison said QBTS currently has stronger near-term traction, while Rigetti is still positioned around longer-term gate-model quantum breakthroughs. RGTI vs QBTS: Which Quantum Computing Stock Holds More Promise?
• Neutral Sentiment: Additional headlines about Quantinuum’s IPO and a revived quantum IPO market have lifted sentiment for the broader sector, indirectly supporting Rigetti’s valuation narrative. Honeywell-Backed Quantinuum Seeks to Raise $1.05 Billion in IPO

Rigetti Computing Stock Performance

The firm has a 50-day moving average price of $17.03 and a 200-day moving average price of $20.69. The stock has a market cap of $8.33 billion, a PE ratio of -28.82 and a beta of 1.79.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $4.40 million during the quarter, compared to analyst estimates of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.Rigetti Computing’s revenue was up 198.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, sell-side analysts anticipate that Rigetti Computing, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Heritage Wealth Advisors grew its stake in shares of Rigetti Computing by 454.3% during the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock valued at $26,000 after acquiring an additional 954 shares during the period. Larson Financial Group LLC boosted its stake in Rigetti Computing by 138.4% in the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after purchasing an additional 707 shares during the period. PeakShares LLC bought a new position in Rigetti Computing in the 1st quarter worth approximately $28,000. EFG International AG bought a new position in Rigetti Computing in the 4th quarter worth approximately $28,000. Finally, Tsfg LLC boosted its stake in Rigetti Computing by 320.5% in the 4th quarter. Tsfg LLC now owns 1,312 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the period. 35.38% of the stock is currently owned by institutional investors.

Rigetti Computing Company 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.