Fifth Third Bancorp Boosts Stock Position in Rigetti Computing, Inc. $RGTI

Fifth Third Bancorp boosted its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 9,797.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,973 shares of the company’s stock after purchasing an additional 50,458 shares during the quarter. Fifth Third Bancorp’s holdings in Rigetti Computing were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of RGTI. Kestra Private Wealth Services LLC grew its holdings in shares of Rigetti Computing by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company’s stock worth $831,000 after buying an additional 535 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Rigetti Computing by 10.2% during the fourth quarter. Global Retirement Partners LLC now owns 6,656 shares of the company’s stock valued at $147,000 after buying an additional 615 shares during the period. Comerica Bank lifted its stake in shares of Rigetti Computing by 2.1% during the third quarter. Comerica Bank now owns 31,901 shares of the company’s stock valued at $950,000 after buying an additional 653 shares during the period. Main Management ETF Advisors LLC boosted its position in Rigetti Computing by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 64,206 shares of the company’s stock worth $1,422,000 after acquiring an additional 656 shares during the last quarter. Finally, Larson Financial Group LLC grew 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 acquiring an additional 707 shares during the period. 35.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a report on Thursday, June 11th. Northland Securities initiated coverage on Rigetti Computing in a report on Monday, April 20th. They set a “market perform” rating and a $20.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Rigetti Computing in a research report on Tuesday, May 12th. Weiss Ratings upgraded Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rigetti Computing has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Rigetti Computing Stock Performance

RGTI opened at $15.64 on Tuesday. Rigetti Computing, Inc. has a 1 year low of $12.53 and a 1 year high of $58.15. The firm has a 50 day moving average price of $19.63 and a 200 day moving average price of $18.60. The company has a market cap of $5.20 billion, a PE ratio of -17.98 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.09 million. During the same period in the previous year, the company posted ($0.05) earnings per share. Rigetti Computing’s revenue was up 198.9% compared to the same quarter last year. On average, sell-side analysts predict that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 3,682 shares of the firm’s stock in a transaction dated 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 directly owned 171,927 shares of the company’s stock, valued at $3,945,724.65. This trade represents a 2.10% decrease in their ownership of the stock. 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, Director Ray O. Johnson sold 122,188 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $21.30, for a total value of $2,602,604.40. Following the transaction, the director owned 171,273 shares in the company, valued at approximately $3,648,114.90. This represents a 41.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 728,901 shares of company stock worth $17,546,343. 1.60% of the stock is currently owned by corporate insiders.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: HPE and Pittsburgh Supercomputing Center partnership: Rigetti will provide a 9-qubit Novera system for TangleLab, a hybrid quantum-classical supercomputing testbed funded by a $5 million National Science Foundation grant. The project strengthens Rigetti’s relationship with Hewlett Packard Enterprise and could help validate its technology with researchers, educators, and future enterprise customers. Construction is expected to begin in September, with operations targeted for 2027. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Sector-wide analyst support: Benchmark initiated or reiterated “Buy” ratings on Rigetti, IonQ, and D-Wave, arguing that expanding enterprise adoption could support multiple successful quantum-computing platforms rather than a single dominant company. Benchmark projects industry revenue of approximately $1.5 billion in 2026, improving sentiment toward quantum stocks. Quantum’s Tipping Point
• Positive Sentiment: Upcoming earnings catalyst: Investors will focus on Novera revenue, adoption of the Cepheus-1 platform, and progress toward improved qubit fidelity in Rigetti’s second-quarter report. These metrics could provide evidence that the company is advancing its roadmap toward quantum advantage. Will Rigetti’s Upcoming Q2 Results Reinforce Its Quantum Growth Story?
• Neutral Sentiment: Commercial progress remains early: Rigetti’s latest reported quarterly revenue was $4.4 million, although revenue grew nearly 199% year over year and the company exceeded analysts’ estimates. The business remains focused on pilots, grants, partnerships, and long-term technology milestones rather than established recurring revenue.
• Negative Sentiment: Profitability and valuation risks: Analysts and financial commentary continue to caution that meaningful quantum-computing profits may be years away. Rigetti remains loss-making, and its elevated market valuation leaves the stock sensitive to delays in product delivery, weaker adoption, or disappointing technical progress. Recent insider activity also showed sales by executives without reported purchases, a potential sentiment headwind.

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.