Rigetti Computing, Inc. $RGTI Stock Position Increased by ORG Wealth Partners LLC

ORG Wealth Partners LLC grew its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 244.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,590 shares of the company’s stock after purchasing an additional 28,090 shares during the period. ORG Wealth Partners LLC’s holdings in Rigetti Computing were worth $1,179,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Osaic Holdings Inc. increased its position in Rigetti Computing by 119.2% in the 2nd quarter. Osaic Holdings Inc. now owns 260,307 shares of the company’s stock valued at $3,087,000 after acquiring an additional 141,541 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of Rigetti Computing in the second quarter worth $392,000. Avior Wealth Management LLC acquired a new position in shares of Rigetti Computing during the second quarter valued at $121,000. Cavalier Investments LLC bought a new stake in shares of Rigetti Computing during the second quarter valued at about $589,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Rigetti Computing in the second quarter worth about $217,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Insiders Place Their Bets

In other Rigetti Computing news, Director Helene Gail Sandford sold 62,000 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $44.89, for a total transaction of $2,783,180.00. Following the sale, the director owned 120,371 shares in the company, valued at approximately $5,403,454.19. The trade was a 34.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Rigetti Computing Stock Performance

NASDAQ RGTI opened at $24.72 on Friday. Rigetti Computing, Inc. has a 1 year low of $5.95 and a 1 year high of $58.15. The business’s fifty day moving average is $26.39 and its two-hundred day moving average is $24.41. The stock has a market capitalization of $8.16 billion, a P/E ratio of -19.02 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $1.95 million for the quarter, compared to analysts’ expectations of $2.17 million. Rigetti Computing had a negative return on equity of 21.98% and a negative net margin of 4,741.49%.Rigetti Computing’s revenue was down 18.1% compared to the same quarter last year. On average, research analysts forecast that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RGTI shares. B. Riley lowered their target price on shares of Rigetti Computing from $42.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Williams Trading set a $40.00 target price on Rigetti Computing in a report on Tuesday, November 11th. Wedbush initiated coverage on Rigetti Computing in a research report on Wednesday, December 17th. They issued an “outperform” rating and a $35.00 target price for the company. Jefferies Financial Group initiated coverage on Rigetti Computing in a research note on Tuesday, December 16th. They set a “hold” rating and a $30.00 price target for the company. Finally, Benchmark dropped their price objective on Rigetti Computing from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.22.

About Rigetti Computing

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.