Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 1,487.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 205,957 shares of the company's stock after acquiring an additional 192,982 shares during the period. Commonwealth Equity Services LLC owned about 0.11% of Rigetti Computing worth $3,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RGTI. Charles Schwab Investment Management Inc. increased 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 buying an additional 144,742 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of Rigetti Computing by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company's stock valued at $3,565,000 after purchasing an additional 407,389 shares in the last quarter. State Street Corp raised its stake 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 worth $2,126,000 after buying an additional 309,831 shares during the period. Jane Street Group LLC lifted its position in shares of Rigetti Computing by 23.8% during the 3rd quarter. Jane Street Group LLC now owns 244,496 shares of the company's stock valued at $191,000 after buying an additional 47,013 shares in the last quarter. Finally, Barclays PLC grew its stake in Rigetti Computing by 275.6% in the 3rd quarter. Barclays PLC now owns 185,959 shares of the company's stock valued at $145,000 after acquiring an additional 136,443 shares during the period. Institutional investors and hedge funds own 35.38% of the company's stock.

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Insider Buying and Selling at Rigetti Computing

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

Rigetti Computing Trading Down 3.8 %

Shares of Rigetti Computing stock traded down $0.32 during mid-day trading on Friday, hitting $8.15. The stock had a trading volume of 27,951,172 shares, compared to its average volume of 47,434,572. The firm has a market cap of $2.33 billion, a P/E ratio of -21.45 and a beta of 1.36. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $10.72 and a two-hundred day moving average of $6.77. Rigetti Computing, Inc. has a 12-month low of $0.66 and a 12-month high of $21.42.

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

Wall Street Analysts Forecast Growth

RGTI has been the topic of several recent analyst reports. Alliance Global Partners reaffirmed a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. Craig Hallum began coverage on Rigetti Computing in a research note on Friday, December 20th. They issued a "buy" rating and a $12.00 price target on the stock. Benchmark reissued a "buy" rating and issued a $14.00 price objective on shares of Rigetti Computing in a research note on Thursday, March 6th. B. Riley raised their price objective on Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $17.00 target price on shares of Rigetti Computing in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rigetti Computing presently has a consensus rating of "Buy" and an average target price of $14.50.

Rigetti Computing 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.