Voya Investment Management LLC Sells 2,091 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

Voya Investment Management LLC decreased its stake in Rigetti Computing, Inc. (NASDAQ:RGTI) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,513 shares of the company’s stock after selling 2,091 shares during the quarter. Voya Investment Management LLC’s holdings in Rigetti Computing were worth $710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Rigetti Computing by 81.7% in the fourth quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company’s stock worth $179,249,000 after buying an additional 5,280,128 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Rigetti Computing by 7,367.2% in the 4th quarter. Invesco Ltd. now owns 4,580,317 shares of the company’s stock worth $69,896,000 after acquiring an additional 4,518,978 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Rigetti Computing by 3,295.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company’s stock worth $32,314,000 after purchasing an additional 2,055,203 shares during the period. UNICOM Systems Inc. purchased a new stake in Rigetti Computing in the 4th quarter worth about $4,349,000. Finally, Rockefeller Capital Management L.P. bought a new stake in Rigetti Computing in the fourth quarter worth about $4,224,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Rigetti Computing Price Performance

Shares of RGTI stock opened at $10.31 on Friday. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month 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 stock has a fifty day simple moving average of $8.94 and a two-hundred day simple moving average of $8.40. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -27.13 and a beta of 1.41.

Rigetti Computing (NASDAQ:RGTI) last released 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). The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $2.40 million. Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of Rigetti Computing stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $7.76, for a total value of $2,729,851.60. Following the transaction, the chief technology officer now owns 1,094,738 shares in the company, valued at $8,495,166.88. The trade was 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. Insiders own 2.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RGTI shares. Alliance Global Partners reaffirmed a “buy” rating on shares of Rigetti Computing in a research note on Thursday, March 6th. Benchmark reiterated a “buy” rating and set a $14.00 target price on shares of Rigetti Computing in a research report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $17.00 target price on shares of Rigetti Computing in a research note on Thursday, March 6th. Finally, B. Riley raised their price target on shares of Rigetti Computing from $8.50 to $15.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Rigetti Computing presently has a consensus rating of “Buy” and a consensus 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.