5,436 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Bought by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC acquired a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 5,436 shares of the company’s stock, valued at approximately $83,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RGTI. Charles Schwab Investment Management Inc. boosted its position in Rigetti Computing by 14.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock valued at $901,000 after buying an additional 144,742 shares in the last quarter. Penserra Capital Management LLC lifted its position in shares of Rigetti Computing by 9.8% during the third quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after purchasing an additional 407,389 shares in the last quarter. State Street Corp lifted its position in shares of Rigetti Computing by 12.9% during the third quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after purchasing an additional 309,831 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Rigetti Computing by 23.8% during the third quarter. Jane Street Group LLC now owns 244,496 shares of the company’s stock worth $191,000 after purchasing an additional 47,013 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Rigetti Computing by 275.6% during the third quarter. Barclays PLC now owns 185,959 shares of the company’s stock worth $145,000 after purchasing an additional 136,443 shares in the last quarter. Institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling at Rigetti Computing

In other news, CTO David Rivas sold 351,785 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total value of $2,729,851.60. Following the sale, the chief technology officer now directly owns 1,094,738 shares in the company, valued at approximately $8,495,166.88. This trade represents a 24.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.81% of the company’s stock.

Rigetti Computing Stock Performance

Shares of RGTI stock opened at $11.16 on Tuesday. The stock has a market cap of $3.19 billion, a P/E ratio of -29.37 and a beta of 1.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. The company has a fifty day moving average price of $10.94 and a two-hundred day moving average price of $6.27. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $21.42.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. The business had revenue of $2.27 million for the quarter, compared to analyst estimates of $2.40 million. During the same period last year, the firm earned ($0.04) earnings per share. As a group, equities analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

RGTI has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $17.00 target price on shares of Rigetti Computing in a research report on Thursday, March 6th. Craig Hallum began coverage on shares of Rigetti Computing in a report on Friday, December 20th. They issued a “buy” rating and a $12.00 price target for the company. Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a report on Thursday, March 6th. Benchmark restated a “buy” rating and set a $14.00 target price on shares of Rigetti Computing in a report on Thursday, March 6th. Finally, B. Riley increased their target price on shares of Rigetti Computing from $8.50 to $15.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Rigetti Computing presently has a consensus rating of “Buy” and an average target price of $14.50.

About Rigetti Computing

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.