Rigetti Computing (NASDAQ:RGTI) CTO Sells $430,706.64 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) CTO David Rivas sold 18,759 shares of Rigetti Computing stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $22.96, for a total transaction of $430,706.64. Following the sale, the chief technology officer owned 713,155 shares of the company’s stock, valued at approximately $16,374,038.80. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Rivas also recently made the following trade(s):

• On Tuesday, March 10th, David Rivas sold 36,719 shares of Rigetti Computing stock. The shares were sold at an average price of $17.52, for a total transaction of $643,316.88.

Rigetti Computing Stock Performance

Shares of NASDAQ:RGTI opened at $27.03 on Friday. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of -31.07 and a beta of 1.79. The stock’s 50-day simple moving average is $17.59 and its two-hundred day simple moving average is $20.49. Rigetti Computing, Inc. has a 52-week low of $10.30 and a 52-week high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. Rigetti Computing’s revenue for the quarter was up 198.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, equities analysts forecast that Rigetti Computing, Inc. will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGTI. Royal Bank of Canada increased its stake in shares of Rigetti Computing by 106.2% during the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after purchasing an additional 113,644 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Rigetti Computing by 138.9% during the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock worth $642,000 after acquiring an additional 47,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Rigetti Computing by 25.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock valued at $890,000 after acquiring an additional 22,770 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Rigetti Computing by 197.8% in the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock worth $203,000 after purchasing an additional 16,998 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Rigetti Computing during the first quarter worth approximately $3,115,000. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RGTI has been the topic of several recent analyst reports. Mizuho cut their price objective on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Benchmark dropped their target price on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. TD Cowen downgraded shares of Rigetti Computing from a “buy” rating to a “hold” rating in a report on Thursday, February 12th. Wall Street Zen raised shares of Rigetti Computing from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a report on Thursday, March 5th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.18.

Rigetti Computing News Roundup

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

• Positive Sentiment: News that the U.S. government plans to invest up to $100 million each in Rigetti, D-Wave, and Infleqtion has boosted sentiment around Rigetti’s long-term funding prospects and validates quantum computing as a strategic priority. The U.S. Government Just Invested in These 3 Quantum Computing Stocks. Should Retail Investors Follow Suit?
• Positive Sentiment: Multiple articles highlighted Rigetti’s 108-qubit Cepheus-1 push and rising QPU demand, reinforcing hopes that the company can advance toward quantum advantage and eventually convert technical progress into revenue growth. Rigetti Computing’s 108-Qubit Push Keeps Quantum Advantage Hopes Alive
• Positive Sentiment: Commentary suggesting Rigetti may be nearing a breakout, along with talk of unusual options activity and investor positioning, points to speculative momentum and possible short-squeeze dynamics supporting the stock. This Quantum Computing Stock May Be Closer to a Breakout Than You Think
• Neutral Sentiment: Market coverage also framed quantum computing as a broader sector theme, with Rigetti benefiting from growing interest in the category rather than from a company-specific catalyst alone. Stock Market Today, May 28: Rigetti Computing Extends Gains on Quantum Optimism
• Negative Sentiment: Recent insider selling by the CFO may create some caution, even though the transaction was tied to tax withholding on equity vesting rather than a clear negative business signal. Jeffrey Bertelsen Sells 3,682 Shares of Rigetti Computing (NASDAQ:RGTI) Stock

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.