Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC grew its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,553,633 shares of the company's stock after purchasing an additional 407,389 shares during the quarter. Penserra Capital Management LLC owned approximately 2.38% of Rigetti Computing worth $3,565,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RGTI. SG Americas Securities LLC purchased a new stake in Rigetti Computing in the second quarter valued at approximately $25,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Rigetti Computing during the 2nd quarter worth $27,000. Cetera Advisors LLC purchased a new position in shares of Rigetti Computing in the 1st quarter worth $38,000. PEAK6 Investments LLC acquired a new position in Rigetti Computing in the first quarter valued at $40,000. Finally, Caprock Group LLC purchased a new stake in Rigetti Computing during the second quarter valued at about $42,000. Institutional investors and hedge funds own 35.38% of the company's stock.

Insider Activity

In other news, Director Helene Gail Sandford sold 43,200 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total value of $35,424.00. Following the sale, the director now owns 257,752 shares in the company, valued at approximately $211,356.64. This represents a 14.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the director now owns 1,313,864 shares in the company, valued at $3,941,592. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,748,325 shares of company stock worth $4,396,028.

Rigetti Computing Stock Down 20.0 %

NASDAQ RGTI traded down $0.55 on Tuesday, reaching $2.20. The company had a trading volume of 125,667,462 shares, compared to its average volume of 49,460,820. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. Rigetti Computing, Inc. has a 1 year low of $1.13 and a 1 year high of $3.37. The firm has a 50-day moving average of $1.13 and a 200-day moving average of $1.03. The firm has a market capitalization of $423.06 million, a PE ratio of -6.57 and a beta of 2.13.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RGTI shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $2.00 price objective on shares of Rigetti Computing in a research note on Wednesday, November 13th. B. Riley lifted their price target on shares of Rigetti Computing from $3.50 to $4.00 and gave the company a "buy" rating in a research report on Monday. Finally, Benchmark reissued a "buy" rating and issued a $2.50 price objective on shares of Rigetti Computing in a research report on Thursday, November 14th.

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.