Rockefeller Capital Management L.P. Has $1.17 Million Holdings in Rigetti Computing, Inc. $RGTI

Key Points

• Rockefeller Capital Management cut its Rigetti Computing stake by 65.2% in the fourth quarter, selling 98,889 shares and ending with 52,879 shares valued at about $1.17 million.
• Rigetti shares were down 3.3% on Thursday, trading at $18.68, below both its 50-day and 200-day moving averages as investors weighed recent weakness in the stock.
• The company posted a smaller-than-expected quarterly loss and 198.9% revenue growth year over year, but concerns remain around its valuation, ongoing cash burn, and mixed analyst sentiment.

Rockefeller Capital Management L.P. decreased its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 65.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,879 shares of the company's stock after selling 98,889 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Rigetti Computing were worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of RGTI. Royal Bank of Canada grew its holdings in shares of Rigetti Computing by 106.2% during the first quarter. Royal Bank of Canada now owns 220,701 shares of the company's stock valued at $1,748,000 after buying an additional 113,644 shares during the last quarter. AQR Capital Management LLC boosted its stake in Rigetti Computing by 138.9% in the first quarter. AQR Capital Management LLC now owns 81,047 shares of the company's stock valued at $642,000 after acquiring an additional 47,115 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rigetti Computing by 25.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company's stock valued at $890,000 after acquiring an additional 22,770 shares during the period. NewEdge Advisors LLC grew its position in shares of Rigetti Computing by 197.8% during the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company's stock valued at $203,000 after acquiring an additional 16,998 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Rigetti Computing during the 1st quarter worth approximately $3,115,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: Recent commentary highlighted Rigetti’s strong liquidity, noting its debt-free $569 million cash position could fund Fab-1 expansion, higher-qubit systems, and its long-term quantum roadmap. Article Title
• Neutral Sentiment: Several articles showed continued investor attention around Rigetti and the quantum-computing theme, including pieces framing it as a small-cap AI/quantum name and one noting elevated search interest, which can keep the stock in focus but does not by itself change fundamentals. Article Title
• Neutral Sentiment: Short-form market coverage pointed out that RGTI simply fell more than the broader market in the latest session, reflecting weaker trading rather than a fresh company-specific catalyst. Article Title
• Negative Sentiment: Analyst-style commentary warned that Rigetti may look fully valued after a huge three-year run, with valuation concerns and ongoing cash burn limiting near-term upside. Article Title
• Negative Sentiment: Broader quantum-computing pieces also emphasized “cash crisis” and bubble concerns across the sector, arguing that pure-play names like RGTI still face long timelines to commercialization and heavy cash usage. Article Title

Rigetti Computing Trading Down 3.3%

Shares of RGTI stock opened at $18.68 on Thursday. The firm's 50 day moving average is $20.42 and its 200 day moving average is $19.61. The stock has a market capitalization of $6.21 billion, a P/E ratio of -21.47 and a beta of 1.95. Rigetti Computing, Inc. has a 12 month low of $11.43 and a 12 month high of $58.15.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The business had revenue of $4.40 million during the quarter, compared to analyst estimates of $4.09 million. During the same period in the previous year, the business earned ($0.05) EPS. Rigetti Computing's revenue was up 198.9% compared to the same quarter last year. On average, equities analysts predict that Rigetti Computing, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on RGTI. Needham & Company LLC reiterated a "buy" rating and issued a $31.00 price objective on shares of Rigetti Computing in a research note on Tuesday, May 12th. Weiss Ratings reissued a "sell (e+)" rating on shares of Rigetti Computing in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Rigetti Computing from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Benchmark dropped their price target on Rigetti Computing from $35.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, March 20th. Finally, Mizuho cut their price target on Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.60.

Insider Buying and Selling

In other Rigetti Computing news, CFO Jeffrey A. Bertelsen sold 3,682 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $22.95, for a total value of $84,501.90. Following the completion of the transaction, the chief financial officer owned 171,927 shares in the company, valued at $3,945,724.65. This trade represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Rivas sold 499,328 shares of Rigetti Computing stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.40, for a total value of $12,682,931.20. Following the transaction, the chief technology officer directly owned 325,945 shares of the company's stock, valued at $8,279,003. The trade was a 60.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 728,901 shares of company stock valued at $17,546,343. Corporate insiders own 1.60% of the company's stock.

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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