Rigetti Computing, Inc. $RGTI Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP increased its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 83.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,040 shares of the company’s stock after buying an additional 27,342 shares during the quarter. Quantinno Capital Management LP’s holdings in Rigetti Computing were worth $843,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Rigetti Computing by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock valued at $796,750,000 after acquiring an additional 3,924,171 shares during the period. State Street Corp lifted its position in Rigetti Computing by 12.0% in the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company’s stock valued at $104,997,000 after purchasing an additional 946,850 shares during the last quarter. Geode Capital Management LLC lifted its position in Rigetti Computing by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock valued at $174,930,000 after purchasing an additional 196,891 shares during the last quarter. UBS Group AG boosted its stake in Rigetti Computing by 90.9% during the 3rd quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock valued at $91,788,000 after purchasing an additional 1,467,483 shares during the period. Finally, Northern Trust Corp boosted its stake in Rigetti Computing by 16.3% during the 3rd quarter. Northern Trust Corp now owns 2,846,095 shares of the company’s stock valued at $84,785,000 after purchasing an additional 397,905 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 499,328 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.40, for a total value of $12,682,931.20. Following the completion of the sale, the chief technology officer directly owned 325,945 shares of the company’s stock, valued at approximately $8,279,003. This represents a 60.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.95, for a total transaction of $84,501.90. Following the transaction, the chief financial officer owned 171,927 shares of the company’s stock, valued at approximately $3,945,724.65. This trade represents a 2.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 728,901 shares of company stock valued at $17,546,343 over the last three months. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RGTI shares. Wall Street Zen lowered shares of Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings lowered Rigetti Computing from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Needham & Company LLC reissued a “buy” rating and issued a $31.00 price objective on shares of Rigetti Computing in a report on Tuesday, May 12th. Benchmark started coverage on Rigetti Computing in a research report on Monday, July 27th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Mizuho cut their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rigetti Computing currently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $18.67 on Tuesday. The stock has a fifty day moving average price of $17.62 and a two-hundred day moving average price of $17.79. The firm has a market cap of $6.23 billion, a P/E ratio of -20.74 and a beta of 1.99. Rigetti Computing, Inc. has a 1 year low of $12.53 and a 1 year high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $5.14 million for the quarter, compared to the consensus estimate of $5.09 million. Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%. On average, research analysts predict that Rigetti Computing, Inc. will post -0.22 earnings per share for the current fiscal year.

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.