Insider Selling: Rigetti Computing, Inc. (NASDAQ:RGTI) Director Sells $375,000.00 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $3.00, for a total value of $375,000.00. Following the sale, the director now directly owns 1,313,864 shares in the company, valued at $3,941,592. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Rigetti Computing Trading Up 9.1 %

RGTI opened at $2.40 on Thursday. Rigetti Computing, Inc. has a twelve month low of $1.13 and a twelve month high of $3.37. The company has a fifty day moving average of $1.19 and a 200-day moving average of $1.05. The stock has a market cap of $461.52 million, a PE ratio of -6.32 and a beta of 2.13. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02.

Analyst Ratings Changes

Several equities research analysts recently commented on RGTI shares. Needham & Company LLC reiterated a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a research report on Wednesday, November 13th. Benchmark restated a “buy” rating and issued a $2.50 price objective on shares of Rigetti Computing in a report on Thursday, November 14th. Finally, B. Riley lifted their target price on Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Monday.

Institutional Trading of Rigetti Computing

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Rigetti Computing by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock valued at $7,933,000 after purchasing an additional 753,110 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Rigetti Computing by 9.8% in the third quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock valued at $3,565,000 after buying an additional 407,389 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rigetti Computing by 20.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after buying an additional 617,506 shares in the last quarter. State Street Corp increased its stake in shares of Rigetti Computing by 12.9% in the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock valued at $2,126,000 after acquiring an additional 309,831 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Rigetti Computing by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock valued at $901,000 after acquiring an additional 144,742 shares during the period. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Company 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.