Quadrature Capital Ltd Acquires 338,578 Shares of Rigetti Computing, Inc. $RGTI

Quadrature Capital Ltd lifted its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 69.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 825,139 shares of the company’s stock after purchasing an additional 338,578 shares during the period. Quadrature Capital Ltd owned 0.25% of Rigetti Computing worth $24,597,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Quantitative Investment Management LLC acquired a new stake in Rigetti Computing in the third quarter valued at $14,428,000. Invesco Ltd. grew its position in shares of Rigetti Computing by 315.1% in the 3rd quarter. Invesco Ltd. now owns 761,600 shares of the company’s stock valued at $22,688,000 after buying an additional 578,125 shares during the last quarter. Sei Investments Co. increased its stake in shares of Rigetti Computing by 22.1% in the third quarter. Sei Investments Co. now owns 69,154 shares of the company’s stock valued at $2,060,000 after buying an additional 12,507 shares during the period. Elevatus Welath Management bought a new position in shares of Rigetti Computing during the third quarter worth about $4,284,000. Finally, UBS Group AG lifted its stake in shares of Rigetti Computing by 90.9% in the third quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock worth $91,788,000 after acquiring an additional 1,467,483 shares during the period. Institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research report on Thursday, March 5th. Needham & Company LLC dropped their price target on shares of Rigetti Computing from $51.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Mizuho dropped their price target on shares of Rigetti Computing from $50.00 to $43.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Jefferies Financial Group assumed coverage on shares of Rigetti Computing in a research note on Tuesday, December 16th. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, Wedbush increased their price objective on shares of Rigetti Computing from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.70.

Rigetti Computing Price Performance

NASDAQ RGTI opened at $16.07 on Friday. The business has a 50 day simple moving average of $19.81 and a 200 day simple moving average of $25.81. Rigetti Computing, Inc. has a one year low of $6.86 and a one year high of $58.15. The stock has a market capitalization of $5.30 billion, a P/E ratio of -23.63 and a beta of 1.71.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $1.87 million for the quarter, compared to analyst estimates of $2.33 million. Rigetti Computing had a negative return on equity of 14.91% and a negative net margin of 3,111.92%.Rigetti Computing’s revenue for the quarter was down 17.9% on a year-over-year basis. Equities analysts expect that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Rigetti Computing

In other news, CFO Jeffrey A. Bertelsen sold 4,270 shares of Rigetti Computing stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the sale, the chief financial officer owned 175,609 shares in the company, valued at $3,076,669.68. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO David Rivas sold 36,719 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $643,316.88. Following the transaction, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. The trade was a 5.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

About Rigetti Computing

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.