Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lowered its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 16.3% in the third quarter, HoldingsChannel.com reports. The fund owned 130,950 shares of the company’s stock after selling 25,565 shares during the quarter. XTX Topco Ltd’s holdings in Rigetti Computing were worth $103,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings 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. Penserra Capital Management LLC raised its position in Rigetti Computing by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after buying an additional 407,389 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Rigetti Computing by 3,788.5% during the 2nd 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 period. Caprock Group LLC purchased a new stake in shares of Rigetti Computing in the 2nd quarter valued at $42,000. Finally, Rhumbline Advisers acquired a new stake in shares of Rigetti Computing in the second quarter worth $161,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Analyst Upgrades and Downgrades

RGTI has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $2.50 price target on shares of Rigetti Computing in a report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $2.00 target price on shares of Rigetti Computing in a research note on Wednesday, November 13th. Craig Hallum initiated coverage on Rigetti Computing in a research report on Friday. They set a “buy” rating and a $12.00 price target for the company. Finally, B. Riley upped their price objective on Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $4.80.

Insider Buying and Selling

In other Rigetti Computing news, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 19,582,218 shares in the company, valued at approximately $29,764,971.36. This represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael S. Clifton sold 125,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.03, for a total transaction of $628,750.00. Following the transaction, the director now directly owns 1,063,864 shares in the company, valued at approximately $5,351,235.92. The trade was a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,955,125 shares of company stock valued at $5,489,354. 2.81% of the stock is owned by company insiders.

Rigetti Computing Trading Up 25.4 %

RGTI stock opened at $9.37 on Friday. Rigetti Computing, Inc. has a 52-week low of $0.66 and a 52-week high of $12.75. 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 firm has a market cap of $1.80 billion, a P/E ratio of -24.66 and a beta of 2.72. The company’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $1.62.

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.