McGuire Investment Group LLC Purchases 151,590 Shares of Rigetti Computing, Inc. $RGTI

Key Points

• McGuire Investment Group boosted its Rigetti stake by 891.9% in Q3, buying 151,590 shares and ending the quarter with 168,586 shares worth about $5.02 million (≈0.05% of the company).
• Analysts hold a consensus rating of Moderate Buy with an average price target of $31.22, based on six Buys, two Holds and one Sell, and recent firm targets clustered around $35–$40.
• In the latest quarter Rigetti reported EPS of -$0.03 (beating estimates) and revenue of $1.95M (down 18.1% YoY), while the company shows negative margins/ROE and a market cap of $7.79 billion with a 52‑week range of $5.95–$58.15.

McGuire Investment Group LLC grew its position in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 891.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 168,586 shares of the company's stock after buying an additional 151,590 shares during the period. McGuire Investment Group LLC owned 0.05% of Rigetti Computing worth $5,022,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc lifted its position in Rigetti Computing by 146.1% during the second quarter. IFP Advisors Inc now owns 2,190 shares of the company's stock valued at $26,000 after acquiring an additional 1,300 shares during the last quarter. Quarry LP acquired a new position in shares of Rigetti Computing during the first quarter worth $31,000. Armstrong Advisory Group Inc. increased its position in shares of Rigetti Computing by 225.4% during the second quarter. Armstrong Advisory Group Inc. now owns 2,974 shares of the company's stock worth $35,000 after purchasing an additional 2,060 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Rigetti Computing during the 1st quarter valued at $42,000. Finally, Hollencrest Capital Management boosted its position in shares of Rigetti Computing by 458.3% in the 2nd quarter. Hollencrest Capital Management now owns 4,020 shares of the company's stock worth $48,000 after purchasing an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on RGTI. Weiss Ratings restated a "sell (d-)" rating on shares of Rigetti Computing in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Rigetti Computing from a "sell" rating to a "hold" rating in a research report on Saturday, November 15th. Williams Trading set a $40.00 price objective on shares of Rigetti Computing in a research note on Tuesday, November 11th. Benchmark lowered their price target on Rigetti Computing from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, November 11th. Finally, Wedbush assumed coverage on shares of Rigetti Computing in a report on Wednesday, December 17th. They issued an "outperform" rating and a $35.00 price target for the company. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rigetti Computing has a consensus rating of "Moderate Buy" and an average price target of $31.22.

Rigetti Computing Stock Performance

Shares of RGTI opened at $23.60 on Friday. The stock has a fifty day moving average of $27.95 and a two-hundred day moving average of $24.02. Rigetti Computing, Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $58.15. The company has a market capitalization of $7.79 billion, a PE ratio of -18.15 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative return on equity of 21.98% and a negative net margin of 4,741.49%.The business had revenue of $1.95 million for the quarter, compared to analyst estimates of $2.17 million. Rigetti Computing's quarterly revenue was down 18.1% compared to the same quarter last year. As a group, equities research analysts forecast that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Helene Gail Sandford sold 62,000 shares of Rigetti Computing stock in a transaction on Friday, October 17th. The stock was sold at an average price of $44.89, for a total transaction of $2,783,180.00. Following the sale, the director directly owned 120,371 shares in the company, valued at approximately $5,403,454.19. This trade represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company's stock.

Rigetti Computing 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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