California State Teachers Retirement System Buys 70,179 Shares of Rigetti Computing, Inc. $RGTI

Key Points

• California State Teachers Retirement System increased its Rigetti Computing stake by 22.8% in the first quarter, purchasing 70,179 shares to hold 377,955 shares worth approximately $5.3 million. Institutional investors collectively own 35.38% of RGTI.
• Rigetti reported second-quarter revenue of $5.14 million, slightly above estimates, while its loss of $0.05 per share matched consensus. The company ended the quarter with $541.3 million in cash and no debt but continues to face significant profitability and commercialization challenges.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $32, although the stock has retreated amid broader quantum-computing sector valuation concerns and recent insider selling.

California State Teachers Retirement System raised its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 377,955 shares of the company's stock after buying an additional 70,179 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Rigetti Computing worth $5,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RGTI. Clear Street Group Inc. boosted its position in shares of Rigetti Computing by 71.1% during the fourth quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company's stock worth $60,761,000 after buying an additional 1,140,183 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in Rigetti Computing by 105.3% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company's stock worth $1,733,000 after buying an additional 63,331 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Rigetti Computing by 66.3% during the 4th quarter. Intech Investment Management LLC now owns 120,260 shares of the company's stock worth $2,664,000 after purchasing an additional 47,935 shares during the last quarter. Spear Advisors LLC bought a new stake in Rigetti Computing in the fourth quarter valued at approximately $2,062,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Rigetti Computing in the 4th quarter valued at $4,937,000. 35.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

RGTI has been the subject of several research reports. Mizuho cut their price objective on shares of Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating for the company in a research report on Tuesday, May 12th. Northland Securities started coverage on shares of Rigetti Computing in a report on Monday, April 20th. They set a "market perform" rating and a $20.00 price target for the company. Wedbush assumed coverage on Rigetti Computing in a research note on Monday. They issued an "outperform" rating and a $40.00 price objective on the stock. Benchmark started coverage on shares of Rigetti Computing in a research note on Monday, July 27th. They set a "buy" rating and a $25.00 target price on the stock. Finally, Weiss Ratings raised Rigetti Computing from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.00.

Rigetti Computing News Summary

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

• Positive Sentiment: Rigetti reported second-quarter revenue of approximately $5.14 million, slightly above the roughly $5.09 million consensus estimate cited by several reports. The company also highlighted growing demand for its quantum systems and accelerating system sales. Rigetti Computing Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Rigetti ended June with $541.3 million in cash and no debt, giving it substantial funding to pursue research and product development. Potential U.S. government support could provide as much as $100 million for research. Rigetti Stock: Falls Despite Fidelity Gains and Government Funding Potential
• Positive Sentiment: The company is advancing its hybrid quantum-classical computing strategy through a $5 million National Science Foundation-backed testbed with Hewlett Packard Enterprise and Pittsburgh Supercomputing Center, scheduled to begin construction in September. Rigetti Expands Hybrid Quantum HPC Push With New NSF Project
• Neutral Sentiment: Rigetti reported a quarterly loss of $0.05 per share. This matched the consensus estimate reported by MarketBeat, although Zacks compared it with a $0.03 expected loss, making the result appear worse on that measure. Rigetti Reports Q2 Loss, Tops Revenue Estimates
• Negative Sentiment: The loss overshadowed revenue growth, while Rigetti continues to have an extremely negative net margin and remains dependent on future commercialization to justify its valuation. Reports characterized the earnings release as mixed and noted a pullback in the shares. Rigetti Dips After Reporting Mixed Q2 Financial Results
• Negative Sentiment: Quantum-computing stocks have broadly retreated from their spring highs amid valuation concerns, adding sector-level pressure to RGTI even as retail investors remain optimistic about the long-term opportunity. Three Quantum Computing Stocks Worth the Speculative Bet

Rigetti Computing Price Performance

Shares of RGTI opened at $16.53 on Friday. The company has a market cap of $5.49 billion, a PE ratio of -19.00 and a beta of 1.99. Rigetti Computing, Inc. has a one year low of $12.53 and a one year high of $58.15. The stock has a 50-day moving average of $18.43 and a 200-day moving average of $18.06.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.05). Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company had revenue of $5.14 million for the quarter, compared to analysts' expectations of $5.09 million. Analysts expect that Rigetti Computing, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity

In related news, CTO David Rivas sold 499,328 shares of Rigetti Computing stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the transaction, the chief technology officer owned 325,945 shares of the company's stock, valued at $8,279,003. The trade was a 60.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ray O. Johnson sold 122,188 shares of the company's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $21.30, for a total transaction of $2,602,604.40. Following the completion of the sale, the director owned 171,273 shares of the company's stock, valued at approximately $3,648,114.90. The trade was a 41.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 728,901 shares of company stock worth $17,546,343 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.

Rigetti Computing Company Profile

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.

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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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