Tableaux LLC Purchases New Shares in Rigetti Computing, Inc. $RGTI

Tableaux LLC acquired a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,000 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGTI. Vanguard Group Inc. increased its position in shares of Rigetti Computing by 20.7% during the first quarter. Vanguard Group Inc. now owns 14,177,119 shares of the company’s stock worth $112,283,000 after acquiring an additional 2,430,758 shares during the last quarter. Geode Capital Management LLC grew its stake in Rigetti Computing by 22.9% during the 2nd quarter. Geode Capital Management LLC now owns 6,484,155 shares of the company’s stock valued at $76,910,000 after purchasing an additional 1,206,925 shares in the last quarter. Nuveen LLC purchased a new stake in Rigetti Computing during the 1st quarter worth approximately $6,523,000. JPMorgan Chase & Co. increased its holdings in Rigetti Computing by 142.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,002,078 shares of the company’s stock worth $11,885,000 after purchasing an additional 588,844 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Rigetti Computing by 40.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,868,382 shares of the company’s stock valued at $14,798,000 after purchasing an additional 538,792 shares in the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Rigetti Computing Stock Performance

Shares of NASDAQ:RGTI opened at $23.59 on Friday. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of -18.15 and a beta of 1.64. Rigetti Computing, Inc. has a 1-year low of $1.54 and a 1-year high of $58.15. The company’s fifty day moving average is $35.25 and its two-hundred day moving average is $21.20.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The business had revenue of $1.95 million during the quarter, compared to analyst estimates of $2.17 million. Rigetti Computing’s revenue for the quarter was down 18.1% compared to the same quarter last year. Sell-side analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RGTI. Weiss Ratings reissued a “sell (e+)” rating on shares of Rigetti Computing in a research report on Wednesday, October 8th. B. Riley reduced their price objective 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. Benchmark dropped their target price on shares of Rigetti Computing from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a research note on Tuesday, November 11th. Finally, Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Rigetti Computing has a consensus rating of “Moderate Buy” and an average target price of $25.43.

Insider Buying and Selling

In other Rigetti Computing news, Director Thomas J. Iannotti sold 100,000 shares of Rigetti Computing stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.50, for a total value of $1,950,000.00. Following the completion of the transaction, the director directly owned 14,902 shares in the company, valued at $290,589. The trade was a 87.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael S. Clifton sold 75,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.00, for a total value of $1,425,000.00. Following the sale, the director owned 653,766 shares in the company, valued at $12,421,554. The trade was a 10.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 405,930 shares of company stock valued at $9,584,046. 1.90% of the stock is currently owned by insiders.

Rigetti Computing Company Profile

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.