Penserra Capital Management LLC boosted its position in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 41.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,215,671 shares of the company's stock after buying an additional 644,455 shares during the quarter. Penserra Capital Management LLC owned approximately 0.78% of Rigetti Computing worth $17,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Rigetti Computing by 81.7% during the fourth quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company's stock valued at $179,249,000 after acquiring an additional 5,280,128 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Rigetti Computing by 7,367.2% during the fourth quarter. Invesco Ltd. now owns 4,580,317 shares of the company's stock valued at $69,896,000 after acquiring an additional 4,518,978 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Rigetti Computing by 3,295.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company's stock valued at $32,314,000 after acquiring an additional 2,055,203 shares in the last quarter. Nuveen Asset Management LLC raised 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 acquiring an additional 806,878 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Rigetti Computing by 536.3% during the fourth quarter. Bank of America Corp DE now owns 505,070 shares of the company's stock valued at $7,707,000 after acquiring an additional 425,689 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Needham & Company LLC decreased their target price on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Cantor Fitzgerald started coverage on Rigetti Computing in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $15.00 price objective for the company. Finally, Benchmark reiterated a "buy" rating and issued a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, May 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $14.20.
View Our Latest Stock Report on RGTI
Rigetti Computing Stock Up 1.0%
Shares of NASDAQ RGTI traded up $0.13 during trading on Wednesday, reaching $13.51. The company had a trading volume of 31,393,728 shares, compared to its average volume of 59,147,870. Rigetti Computing, Inc. has a 12-month low of $0.66 and a 12-month high of $21.42. The stock has a market cap of $3.92 billion, a PE ratio of -19.30 and a beta of 1.43. The business's 50-day moving average is $11.70 and its 200 day moving average is $11.07.
About Rigetti Computing
(
Free Report)
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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