Rigetti Computing, Inc. $RGTI Stock Position Raised by ORG Wealth Partners LLC

ORG Wealth Partners LLC boosted its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 244.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 39,590 shares of the company’s stock after buying an additional 28,090 shares during the quarter. ORG Wealth Partners LLC’s holdings in Rigetti Computing were worth $1,179,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Rigetti Computing by 106.2% in the first quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after buying an additional 113,644 shares during the period. AQR Capital Management LLC lifted its stake in Rigetti Computing by 138.9% in 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. boosted its position in 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 worth $890,000 after acquiring an additional 22,770 shares during the period. NewEdge Advisors LLC grew its stake in Rigetti Computing by 197.8% during the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock valued at $203,000 after acquiring an additional 16,998 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Rigetti Computing in the 1st quarter valued at about $3,115,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RGTI. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a report on Tuesday, November 11th. B. Riley cut their target price on shares of Rigetti Computing from $42.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Mizuho started coverage on shares of Rigetti Computing in a report on Thursday, December 11th. They set an “outperform” rating and a $50.00 price target on the stock. Wall Street Zen raised shares of Rigetti Computing from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Williams Trading set a $40.00 price objective on Rigetti Computing in a research report on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.22.

Rigetti Computing Trading Down 2.1%

Rigetti Computing stock opened at $24.72 on Friday. Rigetti Computing, Inc. has a 1-year low of $5.95 and a 1-year high of $58.15. The firm’s fifty day simple moving average is $26.39 and its 200-day simple moving average is $24.41. The company has a market capitalization of $8.16 billion, a P/E ratio of -19.02 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The firm had revenue of $1.95 million during the quarter, compared to analysts’ expectations of $2.17 million. Rigetti Computing’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, equities research analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In other news, Director Helene Gail Sandford sold 62,000 shares of the stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $44.89, for a total transaction of $2,783,180.00. Following the transaction, the director owned 120,371 shares of the company’s stock, valued at approximately $5,403,454.19. This represents a 34.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.90% 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.