Clearbridge Investments LLC grew its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI – Free Report) by 37.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 918,829 shares of the company’s stock after purchasing an additional 250,827 shares during the quarter. Clearbridge Investments LLC’s holdings in Rigetti Computing were worth $20,352,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Clear Street Group Inc. acquired a new position in Rigetti Computing during the 3rd quarter worth $47,752,000. Van ECK Associates Corp grew its holdings in Rigetti Computing by 384.2% during the 3rd quarter. Van ECK Associates Corp now owns 548,217 shares of the company’s stock worth $16,331,000 after acquiring an additional 434,995 shares in the last quarter. Intech Investment Management LLC grew its holdings in Rigetti Computing by 66.3% during the 4th quarter. Intech Investment Management LLC now owns 120,260 shares of the company’s stock worth $2,664,000 after acquiring an additional 47,935 shares in the last quarter. Elevatus Welath Management acquired a new position in Rigetti Computing during the 3rd quarter worth $4,284,000. Finally, Orion Porfolio Solutions LLC acquired a new position in Rigetti Computing during the 3rd quarter worth $2,841,000. 35.38% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Jeffrey A. Bertelsen sold 3,682 shares of Rigetti Computing stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.95, for a total value of $84,501.90. Following the sale, the chief financial officer directly owned 171,927 shares in the company, valued at $3,945,724.65. This trade represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Rivas sold 499,328 shares of Rigetti Computing stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares in the company, valued at approximately $8,279,003. This represents a 60.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 521,769 shares of company stock worth $13,198,140. 1.60% of the stock is currently owned by insiders.
Analyst Ratings Changes
Read Our Latest Stock Analysis on Rigetti Computing
More Rigetti Computing News
Here are the key news stories impacting Rigetti Computing this week:
- Positive Sentiment: Bernstein analyst Mark Newman said the market may be overlooking Rigetti’s opportunity in quantum computing, with the stock seen as an early winner alongside Infleqtion thanks to government funding, partnerships, and commercial progress. Rigetti Computing Is One of This Analyst’s Top Quantum Picks. The Case for Buying.
- Positive Sentiment: Rigetti advanced its quantum roadmap with a 108-qubit Cepheus system, rising customer adoption, and a stated goal of reaching quantum advantage within three years, which supports the long-term growth narrative. Rigetti Advances Toward Quantum Advantage With Cepheus Push
- Neutral Sentiment: Multiple articles highlighted continued investor interest in RGTI as a trending quantum stock, reinforcing that the name remains highly watched by retail and market participants. Rigetti Computing, Inc. (RGTI) Is a Trending Stock: Facts to Know Before Betting on It
- Neutral Sentiment: InsiderMonkey noted Rigetti remains among the better-known quantum computing stocks for hedge funds, reflecting interest in the sector rather than a specific new catalyst. Is Rigetti Computing, Inc. (RGTI) Among the Best Quantum Computing Stocks to Invest In According to Hedge Funds?
- Negative Sentiment: Broader market weakness in tech and AI stocks is weighing on sentiment, with risk-off trading and profit taking pressuring Nasdaq names like Rigetti. Stock Market Today, June 9: Risk-Off Sentiment Pressures Nasdaq
- Negative Sentiment: A MarketBeat piece argued that legacy tech giants such as Intel and IBM are intensifying competition in quantum computing, which could make life harder for pure-play companies like Rigetti. The Case for Intel Over Pure-Play Quantum Firms (RGTI)
Rigetti Computing Stock Down 9.5%
Shares of NASDAQ:RGTI opened at $19.69 on Wednesday. The company has a market cap of $6.54 billion, a PE ratio of -22.63 and a beta of 1.88. The company’s 50-day moving average price is $18.95 and its 200 day moving average price is $20.27. Rigetti Computing, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $58.15.
Rigetti Computing (NASDAQ:RGTI – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. Rigetti Computing’s quarterly revenue was up 198.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. As a group, equities analysts anticipate that Rigetti Computing, Inc. will post -0.22 EPS for the current year.
Rigetti Computing Company Profile
Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.
At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.
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