LPL Financial LLC Purchases 117,028 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

LPL Financial LLC lifted its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 937.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 129,510 shares of the company's stock after purchasing an additional 117,028 shares during the quarter. LPL Financial LLC owned about 0.07% of Rigetti Computing worth $1,976,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Silverleafe Capital Partners LLC acquired a new position in shares of Rigetti Computing in the fourth quarter valued at approximately $554,000. State Street Corp boosted its stake in Rigetti Computing by 12.9% in the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company's stock worth $2,126,000 after purchasing an additional 309,831 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Rigetti Computing by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company's stock worth $901,000 after purchasing an additional 144,742 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Rigetti Computing by 20.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company's stock valued at $2,837,000 after purchasing an additional 617,506 shares during the period. Finally, Veracity Capital LLC bought a new stake in shares of Rigetti Computing in the fourth quarter valued at about $410,000. 35.38% of the stock is owned by institutional investors.

Rigetti Computing Stock Performance

RGTI stock traded up $0.07 during trading hours on Friday, reaching $8.32. The stock had a trading volume of 11,951,192 shares, compared to its average volume of 49,179,881. The stock has a 50-day simple moving average of $9.22 and a 200 day simple moving average of $7.63. Rigetti Computing, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $21.42. The stock has a market capitalization of $2.38 billion, a PE ratio of -21.89 and a beta of 1.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $2.27 million during the quarter, compared to the consensus estimate of $2.40 million. Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. During the same period last year, the business posted ($0.04) EPS. Analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RGTI shares. Benchmark reiterated a "buy" rating and set a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, March 6th. Alliance Global Partners reissued a "buy" rating on shares of Rigetti Computing in a research report on Thursday, March 6th. B. Riley raised their target price on shares of Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Craig Hallum initiated coverage on shares of Rigetti Computing in a research report on Friday, December 20th. They set a "buy" rating and a $12.00 price target on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $17.00 price objective on shares of Rigetti Computing in a report on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rigetti Computing presently has a consensus rating of "Buy" and a consensus price target of $14.50.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the completion of the sale, the chief technology officer now owns 1,094,738 shares of the company's stock, valued at $8,495,166.88. This trade represents a 24.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.81% of the stock is currently owned by corporate insiders.

Rigetti Computing Company Profile

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.