Rigetti Computing (NASDAQ:RGTI) CEO Subodh Kulkarni Sells 120,000 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) CEO Subodh Kulkarni sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $15.68, for a total value of $1,881,600.00. Following the completion of the transaction, the chief executive officer directly owned 140,411 shares in the company, valued at $2,201,644.48. This trade represents a 46.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rigetti Computing Trading Down 0.5%

Shares of RGTI opened at $15.16 on Friday. The business’s fifty day simple moving average is $16.14 and its two-hundred day simple moving average is $17.64. Rigetti Computing, Inc. has a 12 month low of $12.53 and a 12 month high of $58.15. The company has a market cap of $5.06 billion, a price-to-earnings ratio of -16.84 and a beta of 2.00.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate 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%. As a group, research analysts forecast that Rigetti Computing, Inc. will post -0.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RGTI shares. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Rigetti Computing from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Wedbush started coverage on shares of Rigetti Computing in a research note on Monday, August 3rd. They issued an “outperform” rating and a $40.00 price target for the company. Benchmark initiated coverage on shares of Rigetti Computing in a report on Monday, July 27th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.67.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RGTI. Clear Street Group Inc. lifted its holdings in Rigetti Computing by 71.1% during the fourth quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company’s stock valued at $60,761,000 after purchasing an additional 1,140,183 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Rigetti Computing by 105.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company’s stock worth $1,733,000 after buying an additional 63,331 shares during the period. Intech Investment Management LLC increased its stake in Rigetti Computing by 66.3% in the 4th quarter. Intech Investment Management LLC now owns 120,260 shares of the company’s stock worth $2,664,000 after buying an additional 47,935 shares in the last quarter. Spear Advisors LLC purchased a new position in shares of Rigetti Computing in the fourth quarter valued at about $2,062,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Rigetti Computing in the fourth quarter worth about $4,937,000. Institutional investors own 35.38% of the company’s stock.

Key Rigetti Computing News

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

• Positive Sentiment: Rigetti secured a $100 million CHIPS award to expand quantum-computing production capabilities, including readout electronics, cryogenic systems and chip fabrication. The funding could accelerate scaling, reduce some capital constraints and strengthen the company’s position in the U.S. quantum supply chain. Rigetti Secures $100 Million CHIPS Award to Advance Quantum Scaling
• Positive Sentiment: The Commerce Department is reportedly preparing up to $300 million in minority equity investments across Rigetti, D-Wave and Quantinuum. Potential direct government investment would reinforce Rigetti’s balance sheet and validate the strategic importance of quantum computing, though the final amount and terms remain important uncertainties. Uncle Sam’s Quantum Leap: Feds Fund a $300M Quantum Supercycle
• Neutral Sentiment: Reported September short interest was listed at zero shares, producing a zero-day short-interest ratio. The figures appear inconsistent with the accompanying claim of a significant increase, limiting their usefulness as a signal for RGTI’s trading outlook.
• Negative Sentiment: CEO Subodh Kulkarni sold 120,000 shares for approximately $1.9 million, reducing his holdings by 46.08%. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal, but the reduced insider ownership may still weigh on sentiment. Rigetti CEO Form 4 Filing
• Negative Sentiment: Analysts and financial commentators continue to highlight widening losses, uneven revenue and execution risks. Rigetti’s latest quarterly results showed a loss of $0.05 per share, while full-year losses are still expected, underscoring that government funding has not yet translated into sustainable profitability. Rising Losses Weigh on Rigetti’s Outlook
• Negative Sentiment: Quantum stocks, including Rigetti, pulled back as expectations for another Federal Reserve rate move increased. Higher rates generally pressure speculative, long-duration companies such as RGTI by raising financing costs and reducing the present value investors assign to future growth. Quantum Stocks Fall as Rate-Hike Odds Climb

Rigetti Computing Company Profile

Rigetti Computing, Inc is a quantum computing company that develops full-stack quantum computing systems based on superconducting qubit technology. The company designs and manufactures quantum processors, develops the software needed to program and operate them, and provides access to its systems through cloud-based services.

Rigetti’s offerings include its quantum processing units and integrated quantum computing systems, as well as the Rigetti Quantum Cloud Services platform. Through cloud access and partnerships, organizations can experiment with quantum algorithms and explore potential applications in areas such as optimization, simulation, machine learning and other computationally intensive fields.