Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report) CFO Jeffrey Bertelsen sold 3,682 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $22.95, for a total value of $84,501.90. Following the transaction, the chief financial officer owned 171,927 shares in the company, valued at approximately $3,945,724.65. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rigetti Computing Price Performance
RGTI opened at $27.03 on Friday. The stock’s 50 day simple moving average is $17.59 and its 200 day simple moving average is $20.49. Rigetti Computing, Inc. has a 1 year low of $10.30 and a 1 year high of $58.15. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -31.07 and a beta of 1.79.
Rigetti Computing (NASDAQ:RGTI – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The business had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.09 million. During the same period last year, the company earned ($0.05) EPS. Rigetti Computing’s revenue for the quarter was up 198.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rigetti Computing, Inc. will post -0.19 EPS for the current year.
Analysts Set New Price Targets
Key Stories Impacting Rigetti Computing
Here are the key news stories impacting Rigetti Computing this week:
- Positive Sentiment: News that the U.S. government plans to invest up to $100 million each in Rigetti, D-Wave, and Infleqtion has boosted sentiment around Rigetti’s long-term funding prospects and validates quantum computing as a strategic priority. The U.S. Government Just Invested in These 3 Quantum Computing Stocks. Should Retail Investors Follow Suit?
- Positive Sentiment: Multiple articles highlighted Rigetti’s 108-qubit Cepheus-1 push and rising QPU demand, reinforcing hopes that the company can advance toward quantum advantage and eventually convert technical progress into revenue growth. Rigetti Computing’s 108-Qubit Push Keeps Quantum Advantage Hopes Alive
- Positive Sentiment: Commentary suggesting Rigetti may be nearing a breakout, along with talk of unusual options activity and investor positioning, points to speculative momentum and possible short-squeeze dynamics supporting the stock. This Quantum Computing Stock May Be Closer to a Breakout Than You Think
- Neutral Sentiment: Market coverage also framed quantum computing as a broader sector theme, with Rigetti benefiting from growing interest in the category rather than from a company-specific catalyst alone. Stock Market Today, May 28: Rigetti Computing Extends Gains on Quantum Optimism
- Negative Sentiment: Recent insider selling by the CFO may create some caution, even though the transaction was tied to tax withholding on equity vesting rather than a clear negative business signal. Jeffrey Bertelsen Sells 3,682 Shares of Rigetti Computing (NASDAQ:RGTI) Stock
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Rigetti Computing by 12.2% in the 4th quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock valued at $796,750,000 after purchasing an additional 3,924,171 shares during the period. State Street Corp lifted its stake in shares of Rigetti Computing by 12.0% in the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company’s stock valued at $104,997,000 after purchasing an additional 946,850 shares during the period. Geode Capital Management LLC lifted its stake in shares of Rigetti Computing by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock valued at $174,930,000 after purchasing an additional 196,891 shares during the period. UBS Group AG lifted its stake in shares of Rigetti Computing by 90.9% in the 3rd quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock valued at $91,788,000 after purchasing an additional 1,467,483 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Rigetti Computing by 16.3% in the 3rd quarter. Northern Trust Corp now owns 2,846,095 shares of the company’s stock valued at $84,785,000 after purchasing an additional 397,905 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.
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.
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