34,500 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Acquired by Toth Financial Advisory Corp

Toth Financial Advisory Corp acquired a new position in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 34,500 shares of the company's stock, valued at approximately $273,000.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Rigetti Computing by 81.7% in the 4th quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company's stock valued at $179,249,000 after buying an additional 5,280,128 shares in the last quarter. Invesco Ltd. boosted its position in shares of Rigetti Computing by 7,367.2% during the 4th 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 during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Rigetti Computing by 3,295.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company's stock valued at $32,314,000 after purchasing an additional 2,055,203 shares during the period. Nuveen Asset Management LLC increased its position in Rigetti Computing by 418.6% during the fourth quarter. Nuveen Asset Management LLC now owns 999,617 shares of the company's stock worth $15,254,000 after purchasing an additional 806,878 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Rigetti Computing by 536.3% during the fourth quarter. Bank of America Corp DE now owns 505,070 shares of the company's stock worth $7,707,000 after purchasing an additional 425,689 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on RGTI. Alliance Global Partners reiterated a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. B. Riley upped their price target on Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Needham & Company LLC cut their price objective on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Benchmark reaffirmed a "buy" rating and issued a $14.00 target price on shares of Rigetti Computing in a research report on Thursday, May 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $14.00.

Rigetti Computing Trading Down 0.7%

NASDAQ:RGTI traded down $0.08 during trading hours on Tuesday, reaching $11.24. 61,211,284 shares of the stock were exchanged, compared to its average volume of 55,827,140. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The business has a 50-day moving average of $10.33 and a two-hundred day moving average of $10.15. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -29.58 and a beta of 1.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02.

About Rigetti Computing

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.