20,000 Shares in Rigetti Computing, Inc. $RGTI Purchased by Tableaux LLC

Key Points

• Tableaux LLC acquired a new stake of 20,000 shares of Rigetti (NASDAQ:RGTI) in Q2, valued at about $237,000, according to the firm's latest 13F filing.
• Insiders have been net sellers recently — 405,930 shares worth roughly $9.58 million were sold over the last 90 days, and insiders now own only 1.90% of the company.
• Analysts have an average rating of "Moderate Buy" with an average price target of $25.43, versus a recent open price of about $23.59 and a market cap near $7.65 billion.

Tableaux LLC acquired a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,000 shares of the company's stock, valued at approximately $237,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGTI. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Rigetti Computing by 20.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,000 shares of the company's stock valued at $71,000 after buying an additional 1,000 shares during the period. IFP Advisors Inc grew its holdings in Rigetti Computing by 146.1% during the second quarter. IFP Advisors Inc now owns 2,190 shares of the company's stock worth $26,000 after acquiring an additional 1,300 shares during the period. Stratos Wealth Partners LTD. raised its position in Rigetti Computing by 9.8% in the second quarter. Stratos Wealth Partners LTD. now owns 15,048 shares of the company's stock worth $178,000 after acquiring an additional 1,342 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in Rigetti Computing by 35.5% in the second quarter. Center for Financial Planning Inc. now owns 5,137 shares of the company's stock valued at $61,000 after acquiring an additional 1,345 shares during the period. Finally, US Bancorp DE lifted its holdings in Rigetti Computing by 29.4% in the first quarter. US Bancorp DE now owns 6,248 shares of the company's stock valued at $49,000 after acquiring an additional 1,420 shares during the period. Institutional investors and hedge funds own 35.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Williams Trading set a $40.00 price target on shares of Rigetti Computing in a report on Tuesday, November 11th. Wall Street Zen upgraded Rigetti Computing from a "sell" rating to a "hold" rating in a report on Saturday, November 15th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Rigetti Computing in a report on Wednesday, October 8th. Alliance Global Partners reissued a "buy" rating on shares of Rigetti Computing in a research report on Tuesday, November 11th. Finally, Needham & Company LLC upped their price target on shares of Rigetti Computing from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $25.43.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, Director Thomas J. Iannotti sold 100,000 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $19.50, for a total transaction of $1,950,000.00. Following the transaction, the director owned 14,902 shares in the company, valued at $290,589. The trade was a 87.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Helene Gail Sandford sold 62,000 shares of the company's stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $44.89, for a total value of $2,783,180.00. Following the completion of the sale, the director directly owned 120,371 shares of the company's stock, valued at $5,403,454.19. The trade was a 34.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 405,930 shares of company stock worth $9,584,046. Insiders own 1.90% of the company's stock.

Rigetti Computing Stock Performance

Shares of NASDAQ:RGTI opened at $23.59 on Friday. The stock has a 50-day simple moving average of $35.25 and a 200-day simple moving average of $21.20. The stock has a market capitalization of $7.65 billion, a P/E ratio of -18.15 and a beta of 1.64. Rigetti Computing, Inc. has a 1 year low of $1.54 and a 1 year high of $58.15.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.17 million. The company's revenue was down 18.1% compared to the same quarter last year. Analysts predict 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.

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