Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 33,414 shares of the company's stock, valued at approximately $510,000.
Other large investors have also recently bought and sold shares of the company. Arete Wealth Advisors LLC purchased a new position in shares of Rigetti Computing during the 3rd quarter worth about $45,000. SG Americas Securities LLC raised its stake in Rigetti Computing by 166.9% during the third quarter. SG Americas Securities LLC now owns 63,202 shares of the company's stock worth $49,000 after purchasing an additional 39,526 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Rigetti Computing by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company's stock valued at $49,000 after purchasing an additional 2,045 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Rigetti Computing during the 4th quarter valued at $76,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Rigetti Computing during the 2nd quarter worth $88,000. Institutional investors and hedge funds own 35.38% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on RGTI shares. Benchmark reiterated a "buy" rating and issued a $2.50 target price on shares of Rigetti Computing in a report on Thursday, November 14th. B. Riley increased their target price on shares of Rigetti Computing from $4.00 to $8.50 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Craig Hallum assumed coverage on shares of Rigetti Computing in a research report on Friday, December 20th. They set a "buy" rating and a $12.00 price target on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and set a $2.00 price objective on shares of Rigetti Computing in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rigetti Computing has an average rating of "Buy" and an average price target of $5.70.
Read Our Latest Analysis on Rigetti Computing
Rigetti Computing Stock Up 7.1 %
NASDAQ:RGTI traded up $0.87 during trading hours on Friday, hitting $13.17. The stock had a trading volume of 200,431,257 shares, compared to its average volume of 174,702,624. The business has a 50 day simple moving average of $10.06 and a two-hundred day simple moving average of $4.17. Rigetti Computing, Inc. has a 1-year low of $0.66 and a 1-year high of $21.42. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.53 billion, a PE ratio of -34.66 and a beta of 1.31.
Insider Activity at Rigetti Computing
In other Rigetti Computing news, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of Rigetti Computing stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1.52, for a total transaction of $1,954,893.28. Following the sale, the insider now directly owns 19,582,218 shares in the company, valued at $29,764,971.36. The trade was a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $3.00, for a total value of $375,000.00. Following the completion of the transaction, the director now directly owns 1,313,864 shares in the company, valued at approximately $3,941,592. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,955,125 shares of company stock valued at $5,489,354. Corporate insiders own 2.81% of the company's stock.
About Rigetti Computing
(
Free Report)
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.
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