Seven Grand Managers LLC Buys New Holdings in Rigetti Computing, Inc. $RGTI

Key Points

• Seven Grand Managers LLC disclosed a new fourth-quarter stake in Rigetti Computing, buying 50,000 shares valued at about $1.11 million.
• Institutional interest in Rigetti remains strong, with several other funds adding or initiating positions; overall, institutions now own 35.38% of the company.
• Sentiment is being driven by a potential up to $100 million CHIPS Act funding opportunity from the U.S. government, along with elevated options activity and optimism that Rigetti is moving toward commercial adoption, though insider sales and valuation concerns remain risks.

Seven Grand Managers LLC bought a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company's stock, valued at approximately $1,108,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGTI. Penserra Capital Management LLC increased its stake in 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 last quarter. Clear Street Group Inc. bought a new stake in Rigetti Computing in the 3rd quarter worth approximately $47,752,000. J. Safra Sarasin Holding AG bought a new stake in Rigetti Computing in the 3rd quarter worth approximately $2,576,000. Federated Hermes Inc. increased its stake in 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 last quarter. Finally, Van ECK Associates Corp increased its stake in Rigetti Computing by 384.2% in the 3rd quarter. Van ECK Associates Corp now owns 548,217 shares of the company's stock worth $16,331,000 after acquiring an additional 434,995 shares during the last quarter. Institutional investors own 35.38% of the company's stock.

Key Headlines Impacting Rigetti Computing

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

• Positive Sentiment: The biggest catalyst is a new U.S. government Letter of Intent that could provide Rigetti with up to $100 million in CHIPS Act funding, reinforcing the company’s role in domestic quantum computing and signaling strategic validation from Washington. The U.S. Government Just Invested in These 3 Quantum Computing Stocks. Should Retail Investors Follow Suit?
• Positive Sentiment: Investor enthusiasm is being reinforced by unusually high call option volume, suggesting traders are positioning for further upside in RGTI. Rigetti Computing Sees Unusually High Options Volume NASDAQ: RGTI
• Positive Sentiment: Commentary around a “commercial breakout” and improving enterprise adoption supports the view that Rigetti is moving beyond pure research toward revenue-generating quantum infrastructure. Quantum Computing's Commercial Breakout Has Arrived (RGTI)
• Neutral Sentiment: Several articles noted that RGTI remains one of the most searched and most closely watched quantum stocks, underscoring elevated retail and institutional attention but not adding a direct fundamental catalyst. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Neutral Sentiment: Industry-wide optimism is also helping sentiment, with quantum stocks rising on broader excitement around the sector and new ETF/IPO activity, which can lift RGTI alongside peers. Quantum Computing: The Next AI Boom?
• Negative Sentiment: Recent insider sales by Rigetti’s CFO and CTO may pressure sentiment, even though the trades were disclosed as tax-related transactions tied to equity vesting. Jeffrey Bertelsen Sells 3,682 Shares of Rigetti Computing NASDAQ: RGTI Stock
• Negative Sentiment: One analysis warned that RGTI’s rich valuation leaves little room for execution missteps, implying downside risk if commercialization or revenue growth slows. How Low Can RGTI Stock Go?

Insider Buying and Selling

In other news, CTO David Rivas sold 36,719 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $643,316.88. Following the completion of the transaction, the chief technology officer owned 651,914 shares in the company, valued at approximately $11,421,533.28. The trade was a 5.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $17.52, for a total value of $74,810.40. Following the completion of the transaction, the chief financial officer owned 175,609 shares of the company's stock, valued at approximately $3,076,669.68. This trade represents a 2.37% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 63,430 shares of company stock valued at $1,233,336. Company insiders own 1.60% of the company's stock.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $24.62 on Thursday. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of -28.30 and a beta of 1.79. The stock has a 50 day moving average price of $17.37 and a 200-day moving average price of $20.53. Rigetti Computing, Inc. has a one year low of $10.30 and a one year high of $58.15.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $4.40 million during the quarter, compared to analysts' expectations of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company's quarterly revenue was up 198.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. Sell-side analysts predict that Rigetti Computing, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RGTI has been the topic of a number of research reports. Northland Securities initiated coverage on Rigetti Computing in a research note on Monday, April 20th. They issued a "market perform" rating and a $20.00 price objective on the stock. TD Cowen downgraded Rigetti Computing from a "buy" rating to a "hold" rating in a research note on Thursday, February 12th. Benchmark reduced their price objective on Rigetti Computing from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, March 20th. Wall Street Zen raised Rigetti Computing from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. Finally, Mizuho reduced their price objective on Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Rigetti Computing has an average rating of "Moderate Buy" and a consensus price target of $29.18.

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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