Nuveen LLC Takes $6.52 Million Position in Rigetti Computing, Inc. $RGTI

Nuveen LLC acquired a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 823,599 shares of the company's stock, valued at approximately $6,523,000. Nuveen LLC owned about 0.29% of Rigetti Computing at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of Rigetti Computing during the 4th quarter valued at about $46,000. GAMMA Investing LLC increased its position in shares of Rigetti Computing by 1,813.0% during the 1st quarter. GAMMA Investing LLC now owns 3,233 shares of the company's stock valued at $26,000 after purchasing an additional 3,064 shares during the last quarter. Center for Financial Planning Inc. bought a new position in shares of Rigetti Computing during the 1st quarter valued at about $30,000. Park Square Financial Group LLC bought a new position in shares of Rigetti Computing during the 1st quarter valued at about $40,000. Finally, US Bancorp DE increased its position in shares of Rigetti Computing by 29.4% during the 1st quarter. US Bancorp DE now owns 6,248 shares of the company's stock valued at $49,000 after purchasing an additional 1,420 shares during the last quarter. 35.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 3,919 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $14.84, for a total value of $58,157.96. Following the completion of the sale, the chief financial officer owned 183,581 shares in the company, valued at approximately $2,724,342.04. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO David Rivas sold 44,355 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $14.85, for a total value of $658,671.75. Following the completion of the sale, the chief technology officer owned 730,568 shares of the company's stock, valued at approximately $10,848,934.80. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,694 shares of company stock worth $1,698,130.

Rigetti Computing Price Performance

RGTI opened at $14.82 on Monday. The stock's 50 day simple moving average is $14.17 and its 200 day simple moving average is $11.54. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -19.50 and a beta of 1.44.

Analyst Ratings Changes

Several equities analysts have recently commented on RGTI shares. Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a research report on Wednesday, July 16th. Industrial Alliance Securities set a $18.00 price target on Rigetti Computing in a research report on Wednesday, July 16th. Benchmark raised their price target on Rigetti Computing from $14.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Cantor Fitzgerald assumed coverage on Rigetti Computing in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $15.00 price target on the stock. Finally, Williams Trading set a $20.00 price target on Rigetti Computing in a research report on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rigetti Computing presently has an average rating of "Buy" and a consensus price target of $17.43.

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.

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.