Orion Porfolio Solutions LLC Makes New $2.84 Million Investment in Rigetti Computing, Inc. $RGTI

Key Points

• Orion Portfolio Solutions LLC initiated a new position in Rigetti, buying 95,376 shares valued at approximately $2.84 million in Q3, while large investors like Vanguard also ramped up exposure and institutions/hedge funds now own about 35.38% of the stock.
• Sell‑side coverage is mixed but leans positive: the consensus rating is a Moderate Buy with a $32.70 target (8 Buys, 3 Holds, 1 Sell), though several firms have trimmed price targets recently (e.g., Needham cut from $51 to $31).
• Tactical progress includes a reported hardware milestone (up to 99.9% two‑qubit gate fidelity) and commercial orders (notably an $8.4M order), but revenue remains modest and the company posts negative EPS and margins, leaving execution and financing risks intact.

Orion Porfolio Solutions LLC bought a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 95,376 shares of the company's stock, valued at approximately $2,841,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Rigetti Computing by 40.4% in the 3rd quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company's stock worth $954,665,000 after purchasing an additional 9,228,888 shares during the period. State Street Corp grew its holdings in Rigetti Computing by 12.0% in the second quarter. State Street Corp now owns 8,853,006 shares of the company's stock valued at $104,997,000 after purchasing an additional 946,850 shares during the period. Marex Group plc acquired a new stake in Rigetti Computing in the second quarter valued at approximately $87,414,000. Geode Capital Management LLC increased its position in shares of Rigetti Computing by 22.9% in the second quarter. Geode Capital Management LLC now owns 6,484,155 shares of the company's stock valued at $76,910,000 after buying an additional 1,206,925 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of Rigetti Computing by 43.8% during the 3rd quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company's stock worth $72,860,000 after buying an additional 744,577 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RGTI shares. Needham & Company LLC dropped their price target on shares of Rigetti Computing from $51.00 to $31.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Rosenblatt Securities restated a "buy" rating and set a $40.00 price objective on shares of Rigetti Computing in a research report on Thursday, March 5th. Alliance Global Partners reaffirmed a "buy" rating on shares of Rigetti Computing in a report on Tuesday, November 11th. Benchmark dropped their target price on shares of Rigetti Computing from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Rigetti Computing in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.70.

Rigetti Computing Stock Performance

NASDAQ RGTI opened at $17.60 on Tuesday. The business has a fifty day moving average price of $20.14 and a 200 day moving average price of $25.92. The company has a market cap of $5.81 billion, a P/E ratio of -25.88 and a beta of 1.72. Rigetti Computing, Inc. has a one year low of $6.86 and a one year high of $58.15.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The company had revenue of $1.87 million for the quarter, compared to analysts' expectations of $2.33 million. The business's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti reported a major hardware milestone — up to 99.9% two‑qubit gate fidelity at a 28‑ns speed and progress on a chiplet architecture intended to scale superconducting quantum systems. This directly supports future performance claims and competitiveness in quantum hardware. Can Rigetti's Technology Breakthroughs Accelerate Quantum Progress?
• Positive Sentiment: Material commercial wins and deliveries are boosting near-term revenue visibility — notably an $8.4M order from India’s C‑DAC plus additional system deliveries to the cloud; coverage also cites recent Novera orders that add to backlog. These contract signals help justify investor optimism about early monetization. Rigetti Quantum Order From India Tests Path To Scaled Commercial Adoption
• Positive Sentiment: Analyst sentiment and balance‑sheet commentary have turned more constructive — at least one analyst upgraded coverage (buy) citing improved risk/reward and Rigetti’s roughly $590M cash position referenced in coverage, and brokerages show a consensus “moderate buy.” That reduces short‑term financing concerns and supports multiple upside scenarios. Rigetti Is Starting To Look Interesting Again Rigetti Given Consensus Rating of "Moderate Buy" by Brokerages
• Neutral Sentiment: RGTI is a trending/most‑watched name on sites like Zacks, which can amplify intraday moves but does not by itself change fundamentals. Increased attention can raise volatility. Here is What to Know Beyond Why Rigetti Computing, Inc. (RGTI) is a Trending Stock
• Negative Sentiment: Despite progress, analysts remain divided on timelines and commercialization risks; hardware milestones don’t immediately translate into sustained revenue growth — some coverage points to mixed analyst views and lingering execution risk. Analysts Conflicted on These Technology Names: Rigetti Computing (RGTI) and Everspin Technologies (MRAM)
• Negative Sentiment: Fundamentals remain early-stage: revenue has been modest, margins negative and consensus still expects negative EPS for the year — factors that sustain high volatility and make the stock sensitive to execution or funding setbacks. (See analyst coverage and financial notes above for context.) Can Rigetti's Technology Breakthroughs Accelerate Quantum Progress?

About Rigetti Computing

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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