Polianta Ltd Purchases New Shares in Rigetti Computing, Inc. $RGTI

Polianta Ltd purchased a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 61,800 shares of the company’s stock, valued at approximately $1,368,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of RGTI. Yarbrough Capital LLC increased its stake in Rigetti Computing by 38.9% in the fourth quarter. Yarbrough Capital LLC now owns 69,441 shares of the company’s stock valued at $1,538,000 after purchasing an additional 19,440 shares during the period. ORG Wealth Partners LLC boosted its stake in shares of Rigetti Computing by 6.1% during the fourth quarter. ORG Wealth Partners LLC now owns 42,001 shares of the company’s stock worth $930,000 after buying an additional 2,411 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Rigetti Computing by 1,048.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 49,191 shares of the company’s stock worth $1,090,000 after buying an additional 44,908 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Rigetti Computing during the fourth quarter worth about $178,000. Finally, Wealth Management Partners LLC increased its position in Rigetti Computing by 11.2% in the 4th quarter. Wealth Management Partners LLC now owns 42,259 shares of the company’s stock valued at $936,000 after acquiring an additional 4,261 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on RGTI shares. Wall Street Zen downgraded Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Wedbush lifted their target price on Rigetti Computing from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Royal Bank Of Canada cut Rigetti Computing to a “hold” rating in a research note on Thursday, January 22nd. Jefferies Financial Group began coverage on Rigetti Computing in a report on Tuesday, December 16th. They set a “hold” rating and a $30.00 price target for the company. Finally, Needham & Company LLC lowered their price objective 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. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.70.

Insider Buying and Selling

In related news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total transaction of $74,810.40. Following the transaction, the chief financial officer owned 175,609 shares of the company’s stock, valued at $3,076,669.68. This represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David Rivas sold 36,719 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $643,316.88. Following the completion of the transaction, the chief technology officer owned 651,914 shares of the company’s stock, valued at $11,421,533.28. The trade was a 5.33% decrease in their position. The SEC filing for this sale provides additional information.

Rigetti Computing Stock Down 3.2%

Shares of Rigetti Computing stock opened at $12.90 on Tuesday. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -18.97 and a beta of 1.72. Rigetti Computing, Inc. has a 52-week low of $6.86 and a 52-week high of $58.15. The company’s 50-day simple moving average is $17.43 and its 200-day simple moving average is $25.91.

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

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.