Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,513 shares of the company’s stock after selling 2,091 shares during the quarter. Voya Investment Management LLC’s holdings in Rigetti Computing were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP lifted its stake in shares of Rigetti Computing by 14.9% during the fourth quarter. Allworth Financial LP now owns 11,604 shares of the company’s stock worth $161,000 after buying an additional 1,504 shares during the period. Signaturefd LLC purchased a new stake in Rigetti Computing during the 4th quarter valued at about $25,000. Legal & General Group Plc increased its holdings in shares of Rigetti Computing by 14.9% in the fourth quarter. Legal & General Group Plc now owns 14,051 shares of the company’s stock valued at $214,000 after purchasing an additional 1,817 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Rigetti Computing in the fourth quarter worth about $28,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Rigetti Computing by 3.4% during the third quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock worth $49,000 after purchasing an additional 2,045 shares during the period. 35.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the completion of the transaction, the chief technology officer now directly owns 1,094,738 shares in the company, valued at approximately $8,495,166.88. This represents a 24.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.81% of the stock is currently owned by insiders.

Rigetti Computing Stock Performance

RGTI opened at $10.31 on Friday. The firm has a fifty day moving average price of $8.94 and a 200 day moving average price of $8.40. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42. The stock has a market cap of $2.95 billion, a P/E ratio of -27.13 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($0.08) earnings per share 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 during the quarter, compared to the consensus estimate of $2.40 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. Equities research analysts anticipate that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RGTI. Alliance Global Partners reiterated a “buy” rating on shares of Rigetti Computing in a report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $17.00 target price on shares of Rigetti Computing in a report on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $14.00 price target on shares of Rigetti Computing in a report on Thursday, March 6th. Finally, B. Riley lifted their price objective on Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $14.50.

Rigetti Computing 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.