Rigetti Computing, Inc. $RGTI Stock Holdings Lifted by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. lifted its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 16.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 195,159 shares of the company’s stock after acquiring an additional 27,422 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Rigetti Computing were worth $2,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RGTI. Atria Wealth Solutions Inc. acquired a new position in shares of Rigetti Computing in the 2nd quarter valued at $392,000. Avior Wealth Management LLC purchased a new stake in Rigetti Computing during the second quarter valued at about $121,000. Cavalier Investments LLC purchased a new stake in Rigetti Computing during the second quarter valued at about $589,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Rigetti Computing in the second quarter worth about $217,000. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Rigetti Computing by 24.2% in the second quarter. Teacher Retirement System of Texas now owns 43,260 shares of the company’s stock worth $513,000 after buying an additional 8,419 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 3,919 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $14.84, for a total value of $58,157.96. Following the completion of the sale, the chief financial officer owned 183,581 shares of the company’s stock, valued at $2,724,342.04. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Iannotti sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.50, for a total value of $1,950,000.00. Following the sale, the director directly owned 14,902 shares of the company’s stock, valued at $290,589. The trade was a 87.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 454,204 shares of company stock worth $10,300,876. 1.90% of the stock is currently owned by corporate insiders.

Rigetti Computing Stock Down 9.9%

Rigetti Computing stock opened at $28.30 on Thursday. The company’s fifty day simple moving average is $34.06 and its 200-day simple moving average is $20.54. Rigetti Computing, Inc. has a 12 month low of $1.28 and a 12 month high of $58.15. The stock has a market cap of $9.17 billion, a P/E ratio of -21.77 and a beta of 1.64.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative return on equity of 21.98% and a negative net margin of 4,741.49%.The business had revenue of $1.95 million during the quarter, compared to analyst estimates of $2.17 million. The firm’s quarterly revenue was down 18.1% on a year-over-year basis. On average, equities research analysts expect that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RGTI. Benchmark cut their price target on shares of Rigetti Computing from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday. Industrial Alliance Securities set a $18.00 target price on shares of Rigetti Computing in a research note on Wednesday, July 16th. Needham & Company LLC increased their target price on Rigetti Computing from $15.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 4th. Alliance Global Partners reaffirmed a “buy” rating on shares of Rigetti Computing in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Rigetti Computing in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.43.

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.