Andrew Joseph Bestwick Sells 5,791 Shares of Rigetti Computing (NASDAQ:RGTI) Stock

Key Points

• Rigetti CTO Andrew Bestwick sold 5,791 shares at an average price of $16.81, worth approximately $97,347. The sale covered tax withholding obligations tied to vested equity awards and reduced his ownership by 0.56%, leaving him with 1,036,121 shares.
• Rigetti reported second-quarter revenue of $5.14 million, up from $1.80 million a year earlier, while meeting the $0.05-per-share loss estimate. Despite the growth, the company remains deeply unprofitable, with a $52.61 million net loss and analysts expecting a full-year loss.
• RGTI shares traded near $16.07, well below the analyst consensus price target of $30.67; coverage remains broadly bullish but includes hold and sell ratings. The stock has also faced pressure from a leadership reorganization, sector-wide quantum-stock selling, and concerns about valuation and cash usage.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) CTO Andrew Joseph Bestwick sold 5,791 shares of Rigetti Computing stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.81, for a total value of $97,346.71. Following the sale, the chief technology officer directly owned 1,036,121 shares of the company's stock, valued at approximately $17,417,194.01. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rigetti Computing Price Performance

Shares of RGTI stock traded down $0.93 during mid-day trading on Thursday, hitting $16.07. The stock had a trading volume of 19,838,649 shares, compared to its average volume of 32,422,680. Rigetti Computing, Inc. has a 12-month low of $12.53 and a 12-month high of $58.15. The firm's 50-day moving average is $17.53 and its two-hundred day moving average is $17.74. The firm has a market capitalization of $5.36 billion, a P/E ratio of -17.86 and a beta of 1.99.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $5.14 million for the quarter, compared to analyst estimates of $5.09 million. Rigetti Computing had a negative return on equity of 17.50% and a negative net margin of 2,189.54%. Analysts expect that Rigetti Computing, Inc. will post -0.22 EPS for the current year.

Key Rigetti Computing News

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

• Positive Sentiment: Rigetti created a dedicated Systems Delivery organization to support growing demand for on-premises quantum systems. David Rivas was appointed Chief Operating Officer to oversee manufacturing, delivery, customer-facing engineering, and commercial operations, while Andrew Bestwick, Ph.D., became Chief Technology Officer to focus on chip and processor development. The company is targeting 99.5% median two-qubit gate fidelity for its Cepheus-1-108Q system. Rigetti operating structure announcement
• Positive Sentiment: Second-quarter revenue increased to $5.14 million from $1.80 million a year earlier, and Rigetti received a U.S. Department of Commerce letter of intent for up to $100 million in quantum research and development support. New system deliveries involving partners including Nvidia and HPE also strengthen the commercial-growth narrative, although the company remains deeply unprofitable. Rigetti revenue and R&D support article
• Neutral Sentiment: Analyst coverage remains broadly bullish, with previously published price targets ranging from $25 to $40, well above recent trading levels. However, these targets are based on expectations for future technology and commercial execution rather than current profitability. Rigetti analyst views
• Negative Sentiment: Investors viewed the separation of delivery and chip-development leadership as a major shake-up, intensifying concerns that Rigetti may have needed a reorganization to address execution challenges. The upcoming resignation of board member Dr. Ray Johnson adds to the perception of leadership turnover. Rigetti leadership shake-up article
• Negative Sentiment: Quantum-computing stocks were sold broadly, including Rigetti, IonQ, and D-Wave, without a clear company-specific catalyst. The sector remains highly sensitive to interest rates and risk appetite because these companies are pre-profit and richly valued. Quantum stock selloff article
• Negative Sentiment: Despite strong revenue growth, Rigetti’s second-quarter net loss widened to $52.61 million from $39.65 million a year earlier. The company’s continuing losses and reported insider selling further reinforce investor concerns about valuation and cash usage.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RGTI shares. Rosenblatt Securities reissued a "buy" rating and set a $40.00 target price on shares of Rigetti Computing in a research report on Friday, August 7th. Mizuho dropped their price objective on shares of Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC reiterated a "buy" rating and set a $31.00 price objective on shares of Rigetti Computing in a research note on Tuesday, May 12th. Jefferies Financial Group reissued a "hold" rating and set a $18.00 price objective on shares of Rigetti Computing in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Rigetti Computing from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Seven investment 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, Rigetti Computing presently has an average rating of "Moderate Buy" and a consensus price target of $30.67.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC raised its holdings in Rigetti Computing by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company's stock worth $831,000 after purchasing an additional 535 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Rigetti Computing by 10.2% in the 4th quarter. Global Retirement Partners LLC now owns 6,656 shares of the company's stock valued at $147,000 after buying an additional 615 shares in the last quarter. Comerica Bank grew its position in shares of Rigetti Computing by 2.1% in the 3rd quarter. Comerica Bank now owns 31,901 shares of the company's stock worth $950,000 after buying an additional 653 shares during the last quarter. Main Management ETF Advisors LLC grew its position in shares of Rigetti Computing by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 64,206 shares of the company's stock worth $1,422,000 after buying an additional 656 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake 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 acquiring an additional 707 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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