Barclays PLC Increases Stock Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

Barclays PLC lifted its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 237,094 shares of the company's stock after acquiring an additional 51,135 shares during the period. Barclays PLC owned 0.12% of Rigetti Computing worth $3,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of RGTI. Signaturefd LLC purchased a new position in shares of Rigetti Computing during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC purchased a new position in shares of Rigetti Computing during the 4th quarter worth $28,000. Tucker Asset Management LLC purchased a new stake in Rigetti Computing in the 4th quarter valued at about $32,000. Spire Wealth Management purchased a new stake in Rigetti Computing in the 4th quarter valued at about $46,000. Finally, JPMorgan Chase & Co. raised its holdings in Rigetti Computing by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company's stock valued at $49,000 after buying an additional 2,045 shares during the period. Hedge funds and other institutional investors own 35.38% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $17.00 price objective on shares of Rigetti Computing in a report on Thursday, March 6th. Benchmark restated a "buy" rating and issued a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, March 6th. B. Riley boosted their price objective on shares of Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Alliance Global Partners restated a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $14.50.

Insider Buying and Selling

In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total value of $2,729,851.60. Following the transaction, the chief technology officer now directly owns 1,094,738 shares in the company, valued at $8,495,166.88. This represents a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.81% of the company's stock.

Rigetti Computing Trading Up 3.0 %

NASDAQ RGTI traded up $0.27 during trading on Thursday, hitting $9.14. The stock had a trading volume of 16,198,858 shares, compared to its average volume of 49,460,146. The company has a market capitalization of $2.61 billion, a PE ratio of -24.05 and a beta of 1.41. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average price of $8.82 and a 200 day moving average price of $8.03. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $2.27 million during the quarter, compared to the consensus estimate of $2.40 million. Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. During the same period in the previous year, the company posted ($0.04) EPS. As a group, equities research analysts forecast that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Rigetti Computing Company Profile

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.