Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells 1,286,114 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $1.52, for a total transaction of $1,954,893.28. Following the completion of the sale, the insider now owns 19,582,218 shares of the company’s stock, valued at approximately $29,764,971.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Stock Down 2.0 %

Shares of NASDAQ RGTI traded down $0.03 during midday trading on Tuesday, hitting $1.49. 11,399,626 shares of the company’s stock were exchanged, compared to its average volume of 14,367,848. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.29 and a quick ratio of 4.29. The firm’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.01. Rigetti Computing, Inc. has a twelve month low of $1.13 and a twelve month high of $1.69. The company has a market cap of $284.95 million, a PE ratio of -2.87 and a beta of 2.13.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RGTI. Vanguard Group Inc. lifted its stake in Rigetti Computing by 17.0% in the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock valued at $7,933,000 after buying an additional 753,110 shares during the period. Penserra Capital Management LLC increased its stake in shares of Rigetti Computing by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock valued at $3,565,000 after acquiring an additional 407,389 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Rigetti Computing by 3,788.5% during the second quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock valued at $439,000 after acquiring an additional 400,143 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Rigetti Computing during the second quarter valued at about $161,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Rigetti Computing by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock worth $901,000 after purchasing an additional 144,742 shares in the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

Analyst Ratings Changes

RGTI has been the subject of several analyst reports. Needham & Company LLC decreased their target price on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley assumed coverage on shares of Rigetti Computing in a report on Thursday, July 25th. They set a “buy” rating and a $3.00 price objective on the 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.