Wellington Management Group LLP boosted its position in Rigetti Computing, Inc. (NASDAQ:RGTI – Free Report) by 13.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 538,449 shares of the company’s stock after acquiring an additional 63,658 shares during the quarter. Wellington Management Group LLP owned 0.16% of Rigetti Computing worth $10,403,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Rigetti Computing by 106.2% in the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock valued at $1,748,000 after purchasing an additional 113,644 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Rigetti Computing by 138.9% during the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock worth $642,000 after buying an additional 47,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Rigetti Computing by 25.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock worth $890,000 after buying an additional 22,770 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Rigetti Computing by 197.8% during the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock worth $203,000 after buying an additional 16,998 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Rigetti Computing during the 1st quarter worth $3,115,000. 35.38% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Rigetti Computing
In other news, COO David Rivas sold 9,038 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.79, for a total transaction of $151,748.02. Following the completion of the transaction, the chief operating officer owned 316,907 shares of the company’s stock, valued at approximately $5,320,868.53. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Andrew Bestwick sold 5,791 shares of Rigetti Computing stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.81, for a total transaction of $97,346.71. Following the transaction, the chief technology officer owned 1,036,121 shares in the company, valued at approximately $17,417,194.01. This trade represents a 0.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 128,633 shares of company stock worth $2,434,889 over the last ninety days. Insiders own 1.60% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Research Report on RGTI
Rigetti Computing Stock Performance
NASDAQ:RGTI opened at $15.20 on Tuesday. The stock’s 50-day moving average is $16.34 and its 200-day moving average is $17.66. Rigetti Computing, Inc. has a 1-year low of $12.53 and a 1-year high of $58.15. The stock has a market cap of $5.07 billion, a P/E ratio of -16.89 and a beta of 2.00.
Rigetti Computing (NASDAQ:RGTI – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.50%. The business had revenue of $5.14 million during the quarter, compared to analyst estimates of $5.09 million. As a group, equities analysts forecast that Rigetti Computing, Inc. will post -0.27 EPS for the current year.
About Rigetti Computing
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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