40,670 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Acquired by American Century Companies Inc.

American Century Companies Inc. purchased a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,670 shares of the company's stock, valued at approximately $621,000.

A number of other institutional investors have also recently added to or reduced their stakes in RGTI. Silverleafe Capital Partners LLC acquired a new position in Rigetti Computing in the 4th quarter valued at about $554,000. State Street Corp raised its position in shares of Rigetti Computing by 12.9% during the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company's stock valued at $2,126,000 after buying an additional 309,831 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 144,742 shares during the last quarter. Geode Capital Management LLC grew its position in Rigetti Computing by 20.6% in the third quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company's stock worth $2,837,000 after acquiring an additional 617,506 shares during the period. Finally, Veracity Capital LLC acquired a new stake in Rigetti Computing during the fourth quarter worth $410,000. Hedge funds and other institutional investors own 35.38% of the company's stock.

Insider Activity

In other news, CTO David Rivas sold 351,785 shares of Rigetti Computing stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the completion of the sale, the chief technology officer now directly owns 1,094,738 shares of the company's stock, valued at approximately $8,495,166.88. The trade was a 24.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.81% of the company's stock.

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Rigetti Computing Stock Down 3.4 %

Shares of NASDAQ RGTI traded down $0.32 during midday trading on Friday, hitting $9.10. The company's stock had a trading volume of 27,356,481 shares, compared to its average volume of 48,632,511. 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 firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -23.95 and a beta of 1.41. The business's fifty day simple moving average is $9.64 and its two-hundred day simple moving average is $7.36. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.08). Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. The business had revenue of $2.27 million for the quarter, compared to analyst estimates of $2.40 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. On average, equities analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RGTI. Needham & Company LLC reiterated a "buy" rating and set a $17.00 price target on shares of Rigetti Computing in a report on Thursday, March 6th. Benchmark reaffirmed a "buy" rating and issued a $14.00 target price on shares of Rigetti Computing in a research report on Thursday, March 6th. B. Riley lifted their price target on shares of Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Craig Hallum started coverage on shares of Rigetti Computing in a report on Friday, December 20th. They issued a "buy" rating and a $12.00 price objective on the stock. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $14.50.

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.