Bank of New York Mellon Corp Acquires 174,126 Shares of Rigetti Computing, Inc. $RGTI

Bank of New York Mellon Corp raised its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI) by 15.5% during the first quarter, HoldingsChannel reports. The firm owned 1,297,462 shares of the company’s stock after acquiring an additional 174,126 shares during the quarter. Bank of New York Mellon Corp’s holdings in Rigetti Computing were worth $18,216,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Heritage Wealth Advisors increased its stake in shares of Rigetti Computing by 454.3% in 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 during the last quarter. Larson Financial Group LLC lifted its position in shares of Rigetti Computing by 138.4% during 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 during the last quarter. EFG International AG bought a new stake in shares of Rigetti Computing during the 4th quarter worth $28,000. Tsfg LLC boosted its stake in Rigetti Computing by 320.5% in the fourth quarter. Tsfg LLC now owns 1,312 shares of the company’s stock valued at $29,000 after buying an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Rigetti Computing by 180.3% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

Insider Buying and Selling at Rigetti Computing

In other news, Director Ray O. Johnson sold 122,188 shares of Rigetti Computing stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $21.30, for a total transaction of $2,602,604.40. Following the sale, the director directly owned 171,273 shares of the company’s stock, valued at approximately $3,648,114.90. This trade represents a 41.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Rivas sold 499,328 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.40, for a total value of $12,682,931.20. Following the sale, the chief technology officer owned 325,945 shares in the company, valued at approximately $8,279,003. This trade represents a 60.50% 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 728,901 shares of company stock worth $17,546,343. 1.60% of the stock is currently owned by insiders.

Rigetti Computing Stock Performance

Shares of RGTI opened at $13.22 on Thursday. Rigetti Computing, Inc. has a 52 week low of $12.53 and a 52 week high of $58.15. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -15.20 and a beta of 1.95. The stock has a fifty day moving average of $19.53 and a 200-day moving average of $18.44.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.09 million. During the same quarter in the previous year, the company posted ($0.05) EPS. Rigetti Computing’s quarterly revenue was up 198.9% compared to the same quarter last year. As a group, equities analysts forecast that Rigetti Computing, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on RGTI shares. Northland Securities initiated coverage on Rigetti Computing in a research note on Monday, April 20th. They set a “market perform” rating and a $20.00 target price for the company. Weiss Ratings raised shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a research note on Thursday, June 11th. Wall Street Zen raised shares of Rigetti Computing from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $31.00 price objective on shares of Rigetti Computing in a research report on Tuesday, May 12th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Key Rigetti Computing News

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

• Positive Sentiment: Rigetti is expanding its partnership with Hewlett Packard Enterprise to supply a nine-qubit Novera quantum system for TangleLab, a hybrid quantum-classical supercomputer being developed with the Pittsburgh Supercomputing Center under a National Science Foundation grant. The project could increase Rigetti’s visibility among government, academic and research users. Rigetti Expands HPE Partnership To Build NSF Backed TangleLab Supercomputer
• Positive Sentiment: Benchmark Co. initiated coverage with a “buy” rating and a $25 price target, implying substantial upside from recent levels. The new rating may help support investor sentiment, although it is only one analyst opinion. Benchmark Initiates Rigetti Coverage
• Positive Sentiment: Industry research suggests artificial intelligence and cloud-based quantum services could accelerate commercial adoption, while Rigetti remains one of the quantum companies attracting investor attention. WisdomTree Sizes Up the Quantum-Computing Industry
• Neutral Sentiment: Rigetti’s second-quarter results are approaching. A comparison with D-Wave indicates that D-Wave’s record bookings, backlog and commercial traction currently give it an advantage, increasing the importance of Rigetti demonstrating revenue growth and customer traction. RGTI vs. QBTS Ahead of Q2 Earnings
• Negative Sentiment: Quantum stocks, including Rigetti, IonQ and D-Wave, have fallen sharply over the past month as investors reduce exposure to expensive, unprofitable technology companies. The broader AI-infrastructure pullback has added to sector-wide selling pressure. Quantum Computing Stocks Face Further Selling Risk
• Negative Sentiment: Recent gains tied to quantum-industry announcements have been vulnerable to rapid profit-taking. D-Wave’s AT&T-related rally and subsequent pullback highlight the volatile, catalyst-driven trading environment affecting RGTI and its peers. D-Wave’s AT&T Deal and Quantum-Computing Adoption

About Rigetti Computing

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.