Integrity Alliance LLC. Takes Position in Rigetti Computing, Inc. $RGTI

Integrity Alliance LLC. purchased a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,641 shares of the company's stock, valued at approximately $148,000.

A number of other institutional investors have also recently made changes to their positions in RGTI. UNICOM Systems Inc. grew its holdings in shares of Rigetti Computing by 1,235.8% during the first quarter. UNICOM Systems Inc. now owns 3,806,935 shares of the company's stock valued at $30,151,000 after buying an additional 3,521,935 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Rigetti Computing by 20.7% during the first quarter. Vanguard Group Inc. now owns 14,177,119 shares of the company's stock valued at $112,283,000 after buying an additional 2,430,758 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Rigetti Computing during the first quarter valued at approximately $6,523,000. Nuveen Asset Management LLC grew its holdings in shares of Rigetti Computing by 418.6% during the fourth quarter. Nuveen Asset Management LLC now owns 999,617 shares of the company's stock valued at $15,254,000 after buying an additional 806,878 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in shares of Rigetti Computing by 41.0% during the first quarter. Penserra Capital Management LLC now owns 2,215,671 shares of the company's stock valued at $17,548,000 after buying an additional 644,455 shares during the last quarter. Hedge funds and other institutional investors own 35.38% of the company's stock.

Rigetti Computing Price Performance

Shares of RGTI stock opened at $19.09 on Monday. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of -25.12 and a beta of 1.44. Rigetti Computing, Inc. has a one year low of $0.71 and a one year high of $21.42. The company's fifty day moving average price is $15.43 and its 200-day moving average price is $12.06.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.87 million. Rigetti Computing had a negative net margin of 2,134.92% and a negative return on equity of 29.05%. Equities research analysts expect that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RGTI. Needham & Company LLC increased their price target on shares of Rigetti Computing from $15.00 to $18.00 and gave the company a "buy" rating in a report on Monday, August 4th. Benchmark raised their target price on shares of Rigetti Computing from $14.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Alliance Global Partners restated a "buy" rating on shares of Rigetti Computing in a report on Wednesday, July 16th. Industrial Alliance Securities set a $18.00 target price on shares of Rigetti Computing in a report on Wednesday, July 16th. Finally, B. Riley raised their target price on shares of Rigetti Computing from $15.00 to $19.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Rigetti Computing has a consensus rating of "Buy" and an average target price of $17.43.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 44,355 shares of Rigetti Computing stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $14.85, for a total value of $658,671.75. Following the sale, the chief technology officer directly owned 730,568 shares in the company, valued at approximately $10,848,934.80. The trade was a 5.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ray O. Johnson sold 40,420 shares of Rigetti Computing stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $15.00, for a total transaction of $606,300.00. Following the completion of the sale, the director owned 419,756 shares in the company, valued at approximately $6,296,340. This represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,694 shares of company stock valued at $1,698,130. 1.90% of the stock is currently owned by insiders.

About Rigetti Computing

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.

Want to see what other hedge funds are holding RGTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.