Rigetti Computing (NASDAQ:RGTI) CTO Sells $12,682,931.20 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) CTO David Rivas sold 499,328 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.40, for a total value of $12,682,931.20. Following the sale, the chief technology officer directly owned 325,945 shares in the company, valued at $8,279,003. The trade was a 60.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Rivas also recently made the following trade(s):

• On Friday, May 22nd, David Rivas sold 18,759 shares of Rigetti Computing stock. The shares were sold at an average price of $22.96, for a total value of $430,706.64.
• On Tuesday, March 10th, David Rivas sold 36,719 shares of Rigetti Computing stock. The shares were sold at an average price of $17.52, for a total value of $643,316.88.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $24.09 on Thursday. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of -27.69 and a beta of 1.88. The stock has a 50 day moving average price of $18.40 and a 200-day moving average price of $20.38. Rigetti Computing, Inc. has a one year low of $10.30 and a one year high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $4.40 million for 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 quarterly revenue was up 198.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. Sell-side analysts predict that Rigetti Computing, Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RGTI shares. Mizuho cut 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. Northland Securities began coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 price objective for the company. Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Benchmark cut their target price on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a report on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.18.

More Rigetti Computing News

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

• Positive Sentiment: Rigetti could benefit from up to $100 million in potential U.S. Commerce Department/CHIPS Act-backed quantum R&D funding, which may help accelerate development and address scaling challenges. Article Title
• Positive Sentiment: The company’s recent 108-qubit launch, cloud availability, and new international contract highlight continued commercial progress and reinforce the bullish case for quantum computing exposure. Article Title
• Positive Sentiment: Analysts remain broadly constructive, with multiple buy ratings and an average “Moderate Buy” view, which can help keep momentum traders interested in RGTI.
• Positive Sentiment: IBM’s large quantum investment is also being viewed as a sector tailwind that could validate the broader market opportunity for smaller quantum players like Rigetti. Article Title

Hedge Funds Weigh In On Rigetti Computing

A number of hedge funds have recently added to or reduced their stakes in RGTI. Heritage Wealth Advisors grew its holdings in Rigetti Computing by 454.3% during the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after acquiring an additional 954 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of 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 shares of Rigetti Computing during the first quarter valued at approximately $28,000. EFG International AG bought a new position in shares of Rigetti Computing during the fourth quarter valued at approximately $28,000. Finally, Tsfg LLC increased its holdings in Rigetti Computing by 320.5% during the fourth quarter. Tsfg LLC now owns 1,312 shares of the company’s stock valued at $29,000 after buying an additional 1,000 shares during the period. 35.38% of the stock is currently owned by institutional investors.

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.