Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG lifted its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 79.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158,501 shares of the company's stock after buying an additional 70,200 shares during the period. Deutsche Bank AG owned approximately 0.08% of Rigetti Computing worth $2,419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cresset Asset Management LLC acquired a new stake in shares of Rigetti Computing during the 4th quarter worth $548,000. Cetera Investment Advisers increased its holdings in Rigetti Computing by 118.8% in the 4th quarter. Cetera Investment Advisers now owns 42,456 shares of the company's stock valued at $648,000 after purchasing an additional 23,056 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Rigetti Computing in the 4th quarter valued at $329,000. Bank of America Corp DE increased its holdings in Rigetti Computing by 536.3% in the 4th quarter. Bank of America Corp DE now owns 505,070 shares of the company's stock valued at $7,707,000 after purchasing an additional 425,689 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Rigetti Computing in the 4th quarter valued at $316,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Rigetti Computing Stock Performance

NASDAQ:RGTI opened at $10.96 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. The firm has a 50-day moving average of $9.41 and a two-hundred day moving average of $9.02. The stock has a market cap of $3.18 billion, a P/E ratio of -28.84 and a beta of 1.41. Rigetti Computing, Inc. has a 1-year low of $0.66 and a 1-year high of $21.42.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.08). The company had revenue of $2.27 million during the quarter, compared to analysts' expectations of $2.40 million. Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. During the same period in the prior year, the company posted ($0.04) EPS. On average, research analysts expect that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Rigetti Computing

In other news, CTO David Rivas sold 351,785 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the transaction, the chief technology officer now owns 1,094,738 shares of the company's stock, valued at approximately $8,495,166.88. This trade represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. Needham & Company LLC lowered their price target on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Benchmark reiterated a "buy" rating and issued a $14.00 price target on shares of Rigetti Computing in a report on Thursday, May 15th. Finally, B. Riley increased their price target on Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a report on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $14.00.

Rigetti Computing Profile

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.

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