Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells $945,603.75 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $1.63, for a total transaction of $945,603.75. Following the completion of the sale, the insider now owns 19,002,093 shares of the company’s stock, valued at approximately $30,973,411.59. This represents a 2.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Price Performance

Shares of NASDAQ RGTI opened at $1.35 on Thursday. The company has a fifty day moving average price of $1.06 and a 200 day moving average price of $1.02. Rigetti Computing, Inc. has a 1-year low of $1.13 and a 1-year high of $1.89. The firm has a market cap of $258.18 million, a PE ratio of -3.55 and a beta of 2.13. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Rigetti Computing during the second quarter worth $25,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in Rigetti Computing during the 2nd quarter worth about $27,000. Cetera Advisors LLC acquired a new position in shares of Rigetti Computing during the 1st quarter worth about $38,000. PEAK6 Investments LLC bought a new position in shares of Rigetti Computing in the 1st quarter valued at about $40,000. Finally, Caprock Group LLC acquired a new stake in shares of Rigetti Computing in the second quarter valued at about $42,000. 35.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on RGTI shares. B. Riley boosted their target price on Rigetti Computing from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $2.50 price objective on shares of Rigetti Computing in a report on Thursday, November 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a research note on Wednesday, November 13th.

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.