Seven Grand Managers LLC Acquires New Stake in Rigetti Computing, Inc. $RGTI

Seven Grand Managers LLC acquired a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 50,000 shares of the company’s stock, valued at approximately $1,108,000.

A number of other large investors also recently bought and sold shares of the business. Arista Wealth Management LLC purchased a new position in Rigetti Computing during the 4th quarter valued at $222,000. Geode Capital Management LLC boosted its holdings in Rigetti Computing by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock valued at $174,930,000 after acquiring an additional 196,891 shares during the period. Bleakley Financial Group LLC purchased a new position in Rigetti Computing during the 4th quarter valued at $259,000. Harbour Investments Inc. boosted its holdings in Rigetti Computing by 120.0% during the 4th quarter. Harbour Investments Inc. now owns 5,527 shares of the company’s stock valued at $122,000 after acquiring an additional 3,015 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in Rigetti Computing by 181.6% during the 4th quarter. Clearstead Advisors LLC now owns 3,267 shares of the company’s stock valued at $72,000 after acquiring an additional 2,107 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Analysts Set New Price Targets

RGTI has been the subject of a number of recent analyst reports. Mizuho dropped their price objective on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday, May 12th. TD Cowen cut Rigetti Computing from a “buy” rating to a “hold” rating in a report on Thursday, February 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a report on Thursday, March 5th. Finally, Benchmark lowered their target price on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating for the company in a report on Friday, March 20th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.18.

Rigetti Computing Trading Down 1.8%

Shares of RGTI stock opened at $24.62 on Thursday. Rigetti Computing, Inc. has a twelve month low of $10.30 and a twelve month high of $58.15. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of -28.30 and a beta of 1.79. The stock has a fifty day simple moving average of $17.37 and a two-hundred day simple moving average of $20.53.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $4.40 million during the quarter, compared to analysts’ expectations of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The business’s revenue for the quarter was up 198.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. Research analysts predict that Rigetti Computing, Inc. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Rigetti Computing

In other news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the transaction, the chief financial officer directly owned 175,609 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, CTO David Rivas sold 36,719 shares of the business’s 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 directly owned 651,914 shares of the company’s stock, valued at approximately $11,421,533.28. The trade was a 5.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 63,430 shares of company stock valued at $1,233,336. Corporate insiders own 1.60% of the company’s stock.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: The biggest catalyst is a new U.S. government Letter of Intent that could provide Rigetti with up to $100 million in CHIPS Act funding, reinforcing the company’s role in domestic quantum computing and signaling strategic validation from Washington. The U.S. Government Just Invested in These 3 Quantum Computing Stocks. Should Retail Investors Follow Suit?
• Positive Sentiment: Investor enthusiasm is being reinforced by unusually high call option volume, suggesting traders are positioning for further upside in RGTI. Rigetti Computing Sees Unusually High Options Volume (NASDAQ:RGTI)
• Positive Sentiment: Commentary around a “commercial breakout” and improving enterprise adoption supports the view that Rigetti is moving beyond pure research toward revenue-generating quantum infrastructure. Quantum Computing’s Commercial Breakout Has Arrived (RGTI)
• Neutral Sentiment: Several articles noted that RGTI remains one of the most searched and most closely watched quantum stocks, underscoring elevated retail and institutional attention but not adding a direct fundamental catalyst. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Neutral Sentiment: Industry-wide optimism is also helping sentiment, with quantum stocks rising on broader excitement around the sector and new ETF/IPO activity, which can lift RGTI alongside peers. Quantum Computing: The Next AI Boom?
• Negative Sentiment: Recent insider sales by Rigetti’s CFO and CTO may pressure sentiment, even though the trades were disclosed as tax-related transactions tied to equity vesting. Jeffrey Bertelsen Sells 3,682 Shares of Rigetti Computing (NASDAQ:RGTI) Stock
• Negative Sentiment: One analysis warned that RGTI’s rich valuation leaves little room for execution missteps, implying downside risk if commercialization or revenue growth slows. How Low Can RGTI Stock Go?

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.