Rigetti Computing, Inc. $RGTI Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 66.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,421 shares of the company’s stock after selling 69,472 shares during the quarter. Sanctuary Advisors LLC’s holdings in Rigetti Computing were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RGTI. Heritage Wealth Advisors lifted its holdings in Rigetti Computing by 454.3% in the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after buying an additional 954 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Rigetti Computing by 138.4% during the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after acquiring an additional 707 shares during the last quarter. EFG International AG purchased a new stake in shares of Rigetti Computing during the fourth quarter worth about $28,000. Tsfg LLC lifted its stake in shares of Rigetti Computing by 320.5% in the fourth quarter. Tsfg LLC now owns 1,312 shares of the company’s stock worth $29,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rigetti Computing by 180.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company’s stock worth $30,000 after acquiring an additional 858 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Insider Activity

In related news, CTO David Rivas sold 499,328 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the transaction, the chief technology officer directly owned 325,945 shares in the company, valued at $8,279,003. This trade represents a 60.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ray O. Johnson sold 84,944 shares of Rigetti Computing stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the completion of the transaction, the director directly owned 95,537 shares of the company’s stock, valued at approximately $1,963,285.35. This represents a 47.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 728,901 shares of company stock worth $17,546,343. 1.60% of the stock is currently owned by insiders.

Key Headlines Impacting Rigetti Computing

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rigetti announced an expanded collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center to build TangleLab, a hybrid quantum-classical supercomputing testbed. Rigetti will provide a 9-qubit Novera system, with construction expected to begin in September and operations targeted for 2027. The project is backed by a $5 million National Science Foundation grant. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Benchmark initiated coverage of RGTI with a Buy rating and a $25 price target, adding to the bullish analyst view of the quantum-computing sector. Benchmark also argued that multiple hardware platforms could succeed as enterprise adoption expands. Benchmark quantum sector outlook
• Positive Sentiment: Rigetti’s commercial momentum includes sharply higher first-quarter revenue and potential demand for its Novera systems, Cepheus processors and cloud services. Recent research suggests AI and cloud adoption could accelerate the commercialization of quantum computing. Quantum stocks after the AI infrastructure pullback
• Neutral Sentiment: Investor attention is elevated ahead of Rigetti’s upcoming second-quarter results. Investors will focus on Novera revenue, Cepheus-1 adoption, progress toward higher-fidelity systems and whether the company can meet its technology roadmap. Rigetti upcoming Q2 results
• Negative Sentiment: The stock is being affected by a sector-wide retreat after concerns about heavy AI-infrastructure spending, while investors also reassess quantum valuations after sharp recent rallies in comparable companies such as D-Wave Quantum.
• Negative Sentiment: Rigetti remains unprofitable, and its very high valuation relative to current revenue leaves the shares sensitive to delays in commercialization or disappointing quarterly guidance. Reported insider activity also shows selling rather than open-market purchases over the past six months.

Rigetti Computing Stock Down 7.2%

Shares of Rigetti Computing stock opened at $14.52 on Wednesday. The firm has a market cap of $4.83 billion, a P/E ratio of -16.69 and a beta of 1.95. Rigetti Computing, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $58.15. The business has a 50-day moving average price of $19.60 and a 200 day moving average price of $18.53.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.09 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Rigetti Computing’s revenue for the quarter was up 198.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Benchmark started coverage on Rigetti Computing in a report on Monday. They issued a “buy” rating and a $25.00 price target for the company. Northland Securities initiated coverage on Rigetti Computing in a report on Monday, April 20th. They set a “market perform” rating and a $20.00 price objective on the stock. Weiss Ratings raised Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. Mizuho reduced their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 price target on shares of Rigetti Computing in a research report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Rigetti Computing Company Profile

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.