Insider Selling: Rigetti Computing (NASDAQ:RGTI) CFO Sells 3,682 Shares of Stock

Key Points

• Rigetti Computing CFO Jeffrey Bertelsen sold 3,682 shares on May 22 at an average price of $22.95, for proceeds of about $84,502. The sale reduced his ownership by 2.10% and was made to cover tax withholding tied to vested equity awards.
• RGTI shares have been volatile and heavily traded, recently falling to $25.07 during the session while trading far above average volume. The stock remains well above its 52-week low of $10.30 but below its high of $58.15.
• Analysts remain mixed but broadly constructive, with an average rating of “Moderate Buy” and a consensus price target of $29.18. Recent comments included both target cuts and reaffirmed buy ratings, reflecting ongoing uncertainty around the quantum computing name.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) CFO Jeffrey Bertelsen sold 3,682 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $22.95, for a total transaction of $84,501.90. Following the completion of the sale, the chief financial officer directly owned 171,927 shares of the company's stock, valued at approximately $3,945,724.65. This trade represents a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rigetti Computing Price Performance

Shares of RGTI stock traded down $1.35 during mid-day trading on Tuesday, hitting $25.07. 88,408,629 shares of the stock traded hands, compared to its average volume of 33,424,715. The stock has a market cap of $8.33 billion, a P/E ratio of -28.82 and a beta of 1.79. The stock's fifty day moving average is $17.03 and its two-hundred day moving average is $20.69. Rigetti Computing, Inc. has a 52-week low of $10.30 and a 52-week high of $58.15.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company's revenue for the quarter was up 198.9% compared to the same quarter last year. As a group, equities analysts forecast that Rigetti Computing, Inc. will post -0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RGTI. Mizuho cut their price target on shares of Rigetti Computing from $33.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, May 12th. Northland Securities initiated coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They set a "market perform" rating and a $20.00 price objective on the stock. TD Cowen cut shares of Rigetti Computing from a "buy" rating to a "hold" rating in a research note on Thursday, February 12th. Wall Street Zen raised shares of Rigetti Computing from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 price objective on shares of Rigetti Computing in a research note on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.18.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC raised its holdings in shares of Rigetti Computing by 7.3% during the 1st quarter. Janus Henderson Group PLC now owns 199,987 shares of the company's stock worth $2,809,000 after acquiring an additional 13,666 shares during the period. Encore Global Management LP purchased a new position in shares of Rigetti Computing during the 1st quarter worth $1,685,000. Amundi raised its holdings in Rigetti Computing by 124.8% in the 1st quarter. Amundi now owns 60,012 shares of the company's stock valued at $843,000 after buying an additional 33,317 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Rigetti Computing by 31.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,651 shares of the company's stock valued at $65,000 after buying an additional 1,121 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Rigetti Computing by 22.8% in the 1st quarter. California State Teachers Retirement System now owns 377,955 shares of the company's stock valued at $5,306,000 after buying an additional 70,179 shares during the period. Hedge funds and other institutional investors own 35.38% of the company's stock.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Rigetti is benefiting from news that the federal government plans to provide hundreds of millions of dollars to support domestic quantum foundry and technology development, reinforcing the company’s strategic role in U.S. quantum computing efforts. Quantum Stocks Just Got a Lifeline—Who Benefits Most? (RGTI)
• Positive Sentiment: The stock saw unusually heavy call-option buying, suggesting traders are positioning for more upside and adding to the recent momentum in shares. Rigetti Computing Sees Unusually High Options Volume NASDAQ: RGTI
• Positive Sentiment: Rigetti has also been highlighted as one of last week’s biggest movers, with the stock posting a sharp weekly gain alongside other speculative names, which can attract momentum-focused investors. BB, SIDU, RGTI Stocks Lead Last Week’s Wildest Upswings: Here's What Happened
• Neutral Sentiment: Broader media attention is also increasing, with articles comparing Rigetti to peers and noting that investors are heavily searching for the stock. This reflects heightened interest, though it does not by itself change fundamentals. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Neutral Sentiment: Competitive commentary remains mixed: a Zacks comparison said QBTS currently has stronger near-term traction, while Rigetti is still positioned around longer-term gate-model quantum breakthroughs. RGTI vs QBTS: Which Quantum Computing Stock Holds More Promise?
• Neutral Sentiment: Additional headlines about Quantinuum’s IPO and a revived quantum IPO market have lifted sentiment for the broader sector, indirectly supporting Rigetti’s valuation narrative. Honeywell-Backed Quantinuum Seeks to Raise $1.05 Billion in IPO

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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