Barclays PLC Purchases 136,443 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

Barclays PLC grew its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 275.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,959 shares of the company's stock after purchasing an additional 136,443 shares during the period. Barclays PLC owned approximately 0.10% of Rigetti Computing worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arete Wealth Advisors LLC bought a new stake in Rigetti Computing during the 3rd quarter worth approximately $45,000. SG Americas Securities LLC grew its holdings 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 buying an additional 39,526 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Rigetti Computing during the second quarter worth $88,000. Rhumbline Advisers purchased a new stake in Rigetti Computing in the 2nd quarter valued at $161,000. Finally, XTX Topco Ltd lifted its stake in Rigetti Computing by 1,121.1% during the 2nd quarter. XTX Topco Ltd now owns 156,515 shares of the company's stock valued at $167,000 after acquiring an additional 143,697 shares in the last quarter. Institutional investors own 35.38% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Benchmark reiterated a "buy" rating and issued a $2.50 target price on shares of Rigetti Computing in a research note on Thursday, November 14th. B. Riley upped their price objective 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. Needham & Company LLC reissued a "buy" rating and set a $2.00 target price on shares of Rigetti Computing in a research report on Wednesday, November 13th. Finally, Craig Hallum began coverage on shares of Rigetti Computing in a report on Friday, December 20th. They set a "buy" rating and a $12.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $5.70.

Rigetti Computing Price Performance

Shares of NASDAQ RGTI traded down $0.43 during trading hours on Thursday, reaching $13.48. 126,242,505 shares of the stock traded hands, compared to its average volume of 209,552,906. The company has a market capitalization of $2.59 billion, a P/E ratio of -35.41 and a beta of 1.31. The company's 50-day simple moving average is $8.45 and its two-hundred day simple moving average is $3.59. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. Rigetti Computing, Inc. has a 52-week low of $0.66 and a 52-week high of $21.42.

Insider Transactions 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 value of $1,954,893.28. Following the transaction, the insider now directly owns 19,582,218 shares of the company's stock, valued at $29,764,971.36. The trade was a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $3.00, for a total transaction of $375,000.00. Following the sale, the director now directly owns 1,313,864 shares of the company's stock, valued at $3,941,592. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,955,125 shares of company stock worth $5,489,354. 2.81% of the stock is currently owned by insiders.

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.