SG Americas Securities LLC Has $1.07 Million Stock Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

SG Americas Securities LLC boosted its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,856 shares of the company’s stock after purchasing an additional 6,654 shares during the quarter. SG Americas Securities LLC’s holdings in Rigetti Computing were worth $1,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RGTI. Penserra Capital Management LLC grew its stake in 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 buying an additional 407,389 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rigetti Computing by 20.6% during 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 during the period. State Street Corp boosted its holdings in shares of Rigetti Computing by 12.9% during the third quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after acquiring an additional 309,831 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $901,000 after purchasing an additional 144,742 shares during the period. Finally, Jane Street Group LLC boosted its stake in Rigetti Computing by 23.8% in the 3rd quarter. Jane Street Group LLC now owns 244,496 shares of the company’s stock valued at $191,000 after purchasing an additional 47,013 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Rigetti Computing Stock Up 5.1 %

Shares of NASDAQ:RGTI opened at $13.08 on Wednesday. Rigetti Computing, Inc. has a 12-month low of $0.66 and a 12-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 business’s 50 day moving average is $9.15 and its 200 day moving average is $3.86. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -34.42 and a beta of 1.31.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing 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 transaction, the director now directly owns 1,313,864 shares of the company’s stock, valued at approximately $3,941,592. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,954,893.28. Following the transaction, the insider now directly owns 19,582,218 shares in the company, valued at $29,764,971.36. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,125 shares of company stock valued at $5,489,354 over the last three months. 2.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.