Rigetti Computing, Inc. $RGTI Shares Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. raised its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 16.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,159 shares of the company’s stock after buying an additional 27,422 shares during the quarter. SBI Securities Co. Ltd. owned about 0.07% of Rigetti Computing worth $2,315,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. IFP Advisors Inc increased its holdings in shares of Rigetti Computing by 146.1% in the 2nd quarter. IFP Advisors Inc now owns 2,190 shares of the company’s stock valued at $26,000 after acquiring an additional 1,300 shares during the last quarter. Quarry LP bought a new stake in Rigetti Computing during the first quarter valued at $31,000. Armstrong Advisory Group Inc. raised its holdings in shares of Rigetti Computing by 225.4% during the second quarter. Armstrong Advisory Group Inc. now owns 2,974 shares of the company’s stock worth $35,000 after purchasing an additional 2,060 shares during the period. Banque Transatlantique SA bought a new position in shares of Rigetti Computing in the 1st quarter worth about $42,000. Finally, US Bancorp DE boosted its holdings in shares of Rigetti Computing by 29.4% in the 1st quarter. US Bancorp DE now owns 6,248 shares of the company’s stock valued at $49,000 after buying an additional 1,420 shares during the period. Institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

RGTI has been the topic of several research reports. B. Riley dropped their price objective on shares of Rigetti Computing from $42.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday. Needham & Company LLC increased their price target on Rigetti Computing from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 4th. Williams Trading set a $40.00 price target on Rigetti Computing in a report on Tuesday. Industrial Alliance Securities set a $18.00 price objective on Rigetti Computing in a research note on Wednesday, July 16th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Rigetti Computing in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rigetti Computing has an average rating of “Moderate Buy” and a consensus price target of $25.43.

Rigetti Computing Stock Down 9.9%

Shares of RGTI opened at $28.30 on Thursday. The firm has a market capitalization of $9.17 billion, a PE ratio of -21.77 and a beta of 1.64. The firm has a 50-day moving average price of $34.06 and a 200 day moving average price of $20.54. Rigetti Computing, Inc. has a 52-week low of $1.28 and a 52-week high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company had revenue of $1.95 million during the quarter, compared to analyst estimates of $2.17 million. Rigetti Computing’s quarterly revenue was down 18.1% on a year-over-year basis. On average, equities analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Insider Activity at Rigetti Computing

In other news, Director Helene Gail Sandford sold 62,000 shares of the business’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $44.89, for a total value of $2,783,180.00. Following the sale, the director owned 120,371 shares of the company’s stock, valued at approximately $5,403,454.19. The trade was a 34.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ray O. Johnson sold 126,295 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $20.00, for a total value of $2,525,900.00. Following the completion of the sale, the director owned 293,461 shares of the company’s stock, valued at approximately $5,869,220. This trade represents a 30.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 454,204 shares of company stock worth $10,300,876 in the last quarter. Company insiders own 1.90% of the company’s stock.

About Rigetti Computing

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.