21,531 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Acquired by Captrust Financial Advisors

Captrust Financial Advisors acquired a new position in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,531 shares of the company's stock, valued at approximately $329,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Veracity Capital LLC bought a new position in Rigetti Computing in the 4th quarter valued at $410,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Rigetti Computing in the fourth quarter valued at about $83,000. Barclays PLC increased its position in shares of Rigetti Computing by 275.6% in the third quarter. Barclays PLC now owns 185,959 shares of the company's stock valued at $145,000 after acquiring an additional 136,443 shares during the period. Stephens Inc. AR purchased a new position in shares of Rigetti Computing in the fourth quarter valued at about $229,000. Finally, JPMorgan Chase & Co. increased its position in shares of Rigetti Computing by 3,295.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company's stock valued at $32,314,000 after acquiring an additional 2,055,203 shares during the period. 35.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RGTI shares. Benchmark reiterated a "buy" rating and set a $14.00 price target on shares of Rigetti Computing in a research report on Thursday, May 15th. B. Riley raised their target price on shares of Rigetti Computing from $8.50 to $15.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a research report on Thursday, March 6th. Finally, Needham & Company LLC reduced their price target on shares of Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rigetti Computing currently has a consensus rating of "Buy" and an average price target of $14.00.

Insider Activity

In related news, CTO David Rivas sold 351,785 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the transaction, the chief technology officer now directly owns 1,094,738 shares in the company, valued at approximately $8,495,166.88. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

Rigetti Computing Price Performance

Shares of RGTI opened at $11.92 on Wednesday. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -31.37 and a beta of 1.41. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. 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 company has a 50 day moving average of $9.41 and a two-hundred day moving average of $9.01.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.08). Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. The business had revenue of $2.27 million during the quarter, compared to analysts' expectations of $2.40 million. During the same quarter last year, the company posted ($0.04) earnings per share. As a group, analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Rigetti Computing 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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