Oppenheimer & Co. Inc. boosted its position in Rigetti Computing, Inc. (NASDAQ:RGTI – Free Report) by 31.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,765 shares of the company’s stock after purchasing an additional 4,765 shares during the period. Oppenheimer & Co. Inc.’s holdings in Rigetti Computing were worth $302,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew 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. Penserra Capital Management LLC lifted 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 worth $3,565,000 after purchasing an additional 407,389 shares in the last quarter. State Street Corp lifted its stake in Rigetti Computing by 12.9% in the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after purchasing an additional 309,831 shares in the last quarter. Jane Street Group LLC raised its position in shares of Rigetti Computing by 23.8% during the 3rd quarter. Jane Street Group LLC now owns 244,496 shares of the company’s stock valued at $191,000 after buying an additional 47,013 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Rigetti Computing by 275.6% during the 3rd quarter. Barclays PLC now owns 185,959 shares of the company’s stock valued at $145,000 after buying an additional 136,443 shares in the last quarter. 35.38% of the stock is owned by institutional investors.
Insider Transactions at Rigetti Computing
In related news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.03, for a total transaction of $628,750.00. Following the completion of the transaction, the director now directly owns 1,063,864 shares of the company’s stock, valued at $5,351,235.92. This trade represents a 10.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.81% of the company’s stock.
Analyst Upgrades and Downgrades
RGTI has been the topic of several research reports. Craig Hallum initiated coverage on shares of Rigetti Computing in a research report on Friday, December 20th. They set a “buy” rating and a $12.00 price objective on the stock. B. Riley raised their price objective on shares of Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Benchmark restated a “buy” rating and set a $14.00 price objective on shares of Rigetti Computing in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 target price on shares of Rigetti Computing in a report on Thursday.
View Our Latest Analysis on Rigetti Computing
Rigetti Computing Price Performance
Shares of Rigetti Computing stock opened at $9.35 on Friday. The firm has a market cap of $1.80 billion, a PE ratio of -24.60 and a beta of 1.36. 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 company’s fifty day simple moving average is $11.94 and its two-hundred day simple moving average is $5.88.
Rigetti Computing (NASDAQ:RGTI – Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. The business had revenue of $2.27 million for the quarter, compared to analyst estimates of $2.40 million. During the same quarter last year, the firm earned ($0.04) EPS. As a group, equities analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current year.
About Rigetti Computing
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.
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