Fifth Third Bancorp Boosts Holdings in Rigetti Computing, Inc. $RGTI

Fifth Third Bancorp lifted its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 9,797.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,973 shares of the company’s stock after purchasing an additional 50,458 shares during the period. Fifth Third Bancorp’s holdings in Rigetti Computing were worth $716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Heritage Wealth Advisors grew its holdings in Rigetti Computing by 454.3% during the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock valued at $26,000 after purchasing an additional 954 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Rigetti Computing by 138.4% in the 4th quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock worth $27,000 after buying an additional 707 shares in the last quarter. EFG International AG acquired a new position in Rigetti Computing in the 4th quarter worth $28,000. Tsfg LLC boosted its position in Rigetti Computing by 320.5% in the 4th quarter. Tsfg LLC now owns 1,312 shares of the company’s stock valued at $29,000 after buying an additional 1,000 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Rigetti Computing by 180.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,334 shares of the company’s stock valued at $30,000 after buying an additional 858 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: HPE and Pittsburgh Supercomputing Center partnership: Rigetti will provide a 9-qubit Novera system for TangleLab, a hybrid quantum-classical supercomputing testbed funded by a $5 million National Science Foundation grant. The project strengthens Rigetti’s relationship with Hewlett Packard Enterprise and could help validate its technology with researchers, educators, and future enterprise customers. Construction is expected to begin in September, with operations targeted for 2027. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Sector-wide analyst support: Benchmark initiated or reiterated “Buy” ratings on Rigetti, IonQ, and D-Wave, arguing that expanding enterprise adoption could support multiple successful quantum-computing platforms rather than a single dominant company. Benchmark projects industry revenue of approximately $1.5 billion in 2026, improving sentiment toward quantum stocks. Quantum’s Tipping Point
• Positive Sentiment: Upcoming earnings catalyst: Investors will focus on Novera revenue, adoption of the Cepheus-1 platform, and progress toward improved qubit fidelity in Rigetti’s second-quarter report. These metrics could provide evidence that the company is advancing its roadmap toward quantum advantage. Will Rigetti’s Upcoming Q2 Results Reinforce Its Quantum Growth Story?
• Neutral Sentiment: Commercial progress remains early: Rigetti’s latest reported quarterly revenue was $4.4 million, although revenue grew nearly 199% year over year and the company exceeded analysts’ estimates. The business remains focused on pilots, grants, partnerships, and long-term technology milestones rather than established recurring revenue.
• Negative Sentiment: Profitability and valuation risks: Analysts and financial commentary continue to caution that meaningful quantum-computing profits may be years away. Rigetti remains loss-making, and its elevated market valuation leaves the stock sensitive to delays in product delivery, weaker adoption, or disappointing technical progress. Recent insider activity also showed sales by executives without reported purchases, a potential sentiment headwind.

Wall Street Analysts Forecast Growth

RGTI has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research report on Thursday, June 11th. Wall Street Zen raised Rigetti Computing from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Northland Securities started coverage on Rigetti Computing in a research note on Monday, April 20th. They set a “market perform” rating and a $20.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $31.00 price objective on shares of Rigetti Computing in a report on Tuesday, May 12th. Finally, Benchmark assumed coverage on Rigetti Computing in a research report on Monday. They issued a “buy” rating and a $25.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Rigetti Computing Trading Up 10.5%

Shares of NASDAQ RGTI opened at $15.64 on Tuesday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -17.98 and a beta of 1.95. Rigetti Computing, Inc. has a twelve month low of $12.53 and a twelve month high of $58.15. The business has a 50 day simple moving average of $19.63 and a 200-day simple moving average of $18.60.

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, topping 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 period last year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 198.9% on a year-over-year basis. As a group, equities analysts predict that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO David Rivas sold 499,328 shares of the company’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 completion of the transaction, the chief technology officer directly owned 325,945 shares in the company, valued at $8,279,003. This represents a 60.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ray O. Johnson sold 84,944 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $20.55, for a total value of $1,745,599.20. Following the completion of the sale, the director directly owned 95,537 shares in the company, valued at $1,963,285.35. This represents a 47.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 728,901 shares of company stock valued at $17,546,343. Insiders own 1.60% of the company’s 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.