David Rivas Sells 9,038 Shares of Rigetti Computing (NASDAQ:RGTI) Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) COO David Rivas sold 9,038 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.79, for a total transaction of $151,748.02. Following the completion of the sale, the chief operating officer directly owned 316,907 shares of the company’s stock, valued at approximately $5,320,868.53. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 Friday, May 29th, David Rivas sold 499,328 shares of Rigetti Computing stock. The shares were sold at an average price of $25.40, for a total transaction of $12,682,931.20.
• On Friday, May 22nd, David Rivas sold 18,759 shares of Rigetti Computing stock. The stock was sold at an average price of $22.96, for a total value of $430,706.64.

Rigetti Computing Stock Performance

RGTI opened at $17.91 on Friday. Rigetti Computing, Inc. has a one year low of $12.53 and a one year high of $58.15. The stock has a market capitalization of $5.98 billion, a P/E ratio of -19.90 and a beta of 1.99. The business’s 50-day simple moving average is $17.38 and its 200-day simple moving average is $17.73.

Rigetti Computing (NASDAQ:RGTI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $5.14 million during the quarter, compared to analysts’ expectations of $5.09 million. Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%. On average, equities research analysts forecast that Rigetti Computing, Inc. will post -0.27 EPS for the current fiscal year.

Rigetti Computing News Roundup

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

• Positive Sentiment: Rigetti’s second-quarter revenue rose 185.3% year over year to $5.14 million, driven primarily by Novera hardware sales. The company also cited a U.S. Department of Commerce letter of intent for up to $100 million in quantum-computing research support and commercial deliveries involving partners such as Nvidia and HPE. Rigetti operating structure announcement
• Positive Sentiment: The company created a dedicated Systems Delivery organization to support growing demand for on-premises quantum systems. David Rivas became chief operating officer, while Andrew Bestwick became chief technology officer and will focus on processor, chip and hardware development. Investors may view the structure as a way to improve execution and advance Rigetti’s 108-qubit roadmap. Systems Delivery organization announcement
• Positive Sentiment: Several quantum-computing names, including Rigetti, IonQ and Infleqtion, advanced together without company-specific news. The coordinated move suggests renewed speculative interest in the quantum-computing theme and helped lift RGTI. Quantum computing stocks rally
• Neutral Sentiment: Board member Dr. Ray Johnson is expected to resign, adding to investor attention on governance and management changes. The report did not indicate a strategic shift tied to the resignation. Board member resignation
• Negative Sentiment: Although revenue growth was strong, Rigetti’s net loss widened to $52.61 million from $39.65 million a year earlier. Articles also flagged customer concentration and a valuation exceeding roughly 100 times sales, making the stock particularly sensitive to delays in the next system delivery and execution setbacks. Rigetti second-quarter revenue and losses
• Negative Sentiment: Zacks Research downgraded RGTI from “hold” to “strong sell,” reinforcing concerns about profitability and the stock’s elevated sales multiple.
• Negative Sentiment: The CFO, COO and CTO sold shares to cover tax withholding on vested equity awards. The sales represented small portions of their remaining holdings, but no insider purchases were reported, which may weigh on sentiment.

Wall Street Analyst Weigh In

A number of research firms have commented on RGTI. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price objective on shares of Rigetti Computing in a research note on Friday, August 7th. Weiss Ratings lowered Rigetti Computing from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Benchmark assumed coverage on Rigetti Computing in a research report on Monday, July 27th. They issued a “buy” rating and a $25.00 price target on the stock. Wall Street Zen downgraded Rigetti Computing from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Rigetti Computing in a research report on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.67.

Institutional Trading of Rigetti Computing

Several hedge funds and other institutional investors have recently made changes to their positions in RGTI. Vanguard Group Inc. lifted its position in Rigetti Computing by 12.2% in the fourth quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock valued at $796,750,000 after purchasing an additional 3,924,171 shares during the period. Victory Capital Management Inc. increased its position in Rigetti Computing by 1,632.5% during the 4th quarter. Victory Capital Management Inc. now owns 2,571,289 shares of the company’s stock worth $56,954,000 after purchasing an additional 2,422,873 shares during the period. Ameriprise Financial Inc. acquired a new position in Rigetti Computing during the 2nd quarter worth approximately $21,887,000. Norges Bank purchased a new position in shares of Rigetti Computing during the 4th quarter worth approximately $38,889,000. Finally, Defiance ETFs LLC purchased a new position in shares of Rigetti Computing during the 4th quarter worth approximately $34,267,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

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.