Rigetti Computing, Inc. $RGTI Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management cut its Rigetti Computing stake by 26.7% in the fourth quarter, selling 52,950 shares and leaving it with 145,450 shares valued at about $3.43 million.
• Rigetti’s latest quarterly results beat expectations, with a loss of $0.04 per share versus an estimated $0.05 loss and revenue of $4.40 million topping the $4.09 million consensus. Revenue rose 198.9% year over year, helped by QPU sales.
• Analysts remain mixed but generally constructive: the stock has a Moderate Buy average rating with a $30.64 price target, though some firms recently lowered ratings or targets as the company remains deeply unprofitable.

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 26.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,450 shares of the company's stock after selling 52,950 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Rigetti Computing were worth $3,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC lifted its stake in shares of Rigetti Computing by 43.8% in the 3rd quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company's stock worth $72,860,000 after acquiring an additional 744,577 shares during the period. Clear Street Group Inc. acquired a new stake in shares of Rigetti Computing in the 3rd quarter worth approximately $47,752,000. J. Safra Sarasin Holding AG acquired a new stake in shares of Rigetti Computing in the 3rd quarter worth approximately $2,576,000. Federated Hermes Inc. lifted its stake in shares of Rigetti Computing by 6,219.1% in the 3rd quarter. Federated Hermes Inc. now owns 100,853 shares of the company's stock worth $3,004,000 after acquiring an additional 99,257 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Rigetti Computing by 222.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 630,655 shares of the company's stock worth $18,787,000 after acquiring an additional 434,989 shares during the period. 35.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RGTI has been the subject of several recent research reports. Needham & Company LLC cut their target price on shares of Rigetti Computing from $51.00 to $31.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. B. Riley Financial raised shares of Rigetti Computing from a "neutral" rating to a "buy" rating and set a $35.00 target price for the company in a research note on Thursday, January 22nd. TD Cowen lowered shares of Rigetti Computing from a "buy" rating to a "hold" rating in a research note on Thursday, February 12th. Royal Bank Of Canada lowered shares of Rigetti Computing to a "hold" rating in a research note on Thursday, January 22nd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $40.00 target price on shares of Rigetti Computing in a research note on Thursday, March 5th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $30.64.

Rigetti Computing Price Performance

RGTI stock opened at $20.51 on Tuesday. Rigetti Computing, Inc. has a 52-week low of $9.85 and a 52-week high of $58.15. The company's 50 day simple moving average is $16.47 and its 200-day simple moving average is $22.05. The firm has a market capitalization of $6.81 billion, a P/E ratio of -30.16 and a beta of 1.79.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 3,111.92% and a negative return on equity of 14.91%. The business had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.09 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. The firm's revenue was up 198.9% compared to the same quarter last year. Sell-side analysts predict that Rigetti Computing, Inc. will post -0.16 EPS for the current fiscal year.

More Rigetti Computing News

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

• Positive Sentiment: Rigetti beat Q1 estimates, reporting a loss of $0.04 per share versus expectations for a $0.05 loss, while revenue of $4.40 million also came in ahead of the $4.09 million consensus. The company said QPU sales helped lift revenue. Article Title
• Positive Sentiment: Investor interest appeared strong heading into and after the print, with unusual call option buying suggesting traders were positioning for more upside in the stock.
• Neutral Sentiment: Rigetti’s earnings call and first-quarter release provided additional color on its quantum-computing roadmap, but the key takeaway was still that the business is in an early-stage, high-growth/high-loss phase. Article Title
• Neutral Sentiment: Coverage comparing Rigetti with IonQ highlighted diverging revenue trends across quantum peers, keeping attention on which company can turn technical progress into durable commercial growth. Article Title
• Negative Sentiment: Despite the beat, Rigetti remains deeply unprofitable, with negative return on equity and a very large negative net margin, which may limit enthusiasm for the stock’s valuation.
• Negative Sentiment: Some market commentary noted the stock was falling on the release because the quarter largely met expectations on the bottom line, suggesting investors may have wanted a bigger surprise. Article Title

Insider Buying and Selling

In other news, CFO Jeffrey A. Bertelsen sold 4,270 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $74,810.40. Following the sale, the chief financial officer owned 175,609 shares in the company, valued at $3,076,669.68. The trade was a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David Rivas sold 36,719 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total transaction of $643,316.88. Following the sale, the chief technology officer owned 651,914 shares in the company, valued at $11,421,533.28. This represents a 5.33% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by insiders.

Rigetti Computing Company Profile

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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