Rigetti Computing, Inc. $RGTI Shares Bought by Deutsche Bank AG

Deutsche Bank AG boosted its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 20.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,989 shares of the company's stock after acquiring an additional 32,488 shares during the quarter. Deutsche Bank AG owned about 0.07% of Rigetti Computing worth $1,513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RGTI. Chicago Partners Investment Group LLC bought a new position in shares of Rigetti Computing in the first quarter valued at $82,000. Charles Schwab Investment Management Inc. increased its stake in Rigetti Computing by 40.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,868,382 shares of the company's stock worth $14,798,000 after purchasing an additional 538,792 shares in the last quarter. Vanguard Group Inc. raised its holdings in Rigetti Computing by 20.7% during the 1st quarter. Vanguard Group Inc. now owns 14,177,119 shares of the company's stock worth $112,283,000 after buying an additional 2,430,758 shares during the period. Levin Capital Strategies L.P. raised its holdings in Rigetti Computing by 182.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 25,000 shares of the company's stock worth $198,000 after buying an additional 55,500 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its holdings in shares of Rigetti Computing by 469.1% in the first quarter. Thoroughbred Financial Services LLC now owns 65,450 shares of the company's stock worth $518,000 after buying an additional 53,950 shares during the period. 35.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RGTI has been the subject of several research analyst reports. B. Riley upped their price target on shares of Rigetti Computing from $15.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Needham & Company LLC raised their target price on Rigetti Computing from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. Williams Trading set a $20.00 price target on Rigetti Computing in a research report on Wednesday, August 13th. Cantor Fitzgerald initiated coverage on Rigetti Computing in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $15.00 price objective for the company. Finally, Industrial Alliance Securities set a $18.00 target price on Rigetti Computing in a research note on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $17.43.

Insider Activity

In other news, Director Michael S. Clifton sold 25,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $15.00, for a total value of $375,000.00. Following the sale, the director directly owned 853,766 shares of the company's stock, valued at approximately $12,806,490. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David Rivas sold 44,355 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 directly owned 730,568 shares of the company's stock, valued at $10,848,934.80. This represents a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,694 shares of company stock valued at $1,698,130 over the last three months. Corporate insiders own 1.90% of the company's stock.

Rigetti Computing Trading Up 3.9%

Shares of NASDAQ:RGTI opened at $14.82 on Friday. The stock has a market capitalization of $4.30 billion, a PE ratio of -19.50 and a beta of 1.44. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42. The firm has a fifty day moving average price of $14.17 and a 200 day moving average price of $11.57.

Rigetti Computing Company 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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