Brighton Jones LLC Sells 41,785 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

Brighton Jones LLC cut its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTIFree Report) by 67.7% during the 4th quarter, HoldingsChannel reports. The firm owned 19,981 shares of the company’s stock after selling 41,785 shares during the period. Brighton Jones LLC’s holdings in Rigetti Computing were worth $305,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RGTI. Silverleafe Capital Partners LLC purchased a new position in shares of Rigetti Computing during the fourth quarter valued at approximately $554,000. State Street Corp increased its position in Rigetti Computing by 12.9% during the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock valued at $2,126,000 after buying an additional 309,831 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rigetti Computing by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock valued at $901,000 after buying an additional 144,742 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Rigetti Computing by 20.6% in the third quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after acquiring an additional 617,506 shares in the last quarter. Finally, Veracity Capital LLC purchased a new stake in shares of Rigetti Computing in the fourth quarter worth $410,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $3.00, for a total transaction of $375,000.00. Following the completion of the sale, the director now directly owns 1,313,864 shares of the company’s stock, valued at approximately $3,941,592. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of Rigetti Computing stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $1.63, for a total transaction of $945,603.75. Following the transaction, the insider now owns 19,002,093 shares in the company, valued at $30,973,411.59. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,955,125 shares of company stock worth $5,489,354 in the last quarter. Company insiders own 2.81% of the company’s stock.

Rigetti Computing Stock Down 5.9 %

Shares of Rigetti Computing stock opened at $12.43 on Tuesday. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $8.93 and its 200 day moving average is $3.78. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -32.70 and a beta of 1.31.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RGTI shares. Benchmark reaffirmed a “buy” rating and issued a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. B. Riley upped their target price on shares of Rigetti Computing from $4.00 to $8.50 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Needham & Company LLC reissued a “buy” rating and set a $2.00 price target on shares of Rigetti Computing in a research report on Wednesday, November 13th. Finally, Craig Hallum started coverage on Rigetti Computing in a research report on Friday, December 20th. They issued a “buy” rating and a $12.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $5.70.

Get Our Latest Research Report on Rigetti Computing

Rigetti Computing Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding RGTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rigetti Computing, Inc. (NASDAQ:RGTIFree Report).

Institutional Ownership by Quarter for Rigetti Computing (NASDAQ:RGTI)

Receive News & Ratings for Rigetti Computing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rigetti Computing and related companies with MarketBeat.com's FREE daily email newsletter.