Rigetti Computing (NASDAQ:RGTI) CFO Jeffrey Bertelsen Sells 3,860 Shares

Key Points

• CFO Jeffrey Bertelsen sold 3,860 Rigetti shares at an average price of $16.89, generating $65,195.40. The sale covered tax-withholding obligations tied to vested equity awards, and he retained 168,067 shares.
• Rigetti shares fell to $16.07, while the company reported a quarterly loss of $0.05 per share and $5.14 million in revenue. Despite strong year-over-year revenue growth, the company remains deeply unprofitable.
• Analyst sentiment is generally positive, with seven Buy ratings and a consensus price target of $30.67, although coverage includes four Holds and one Sell, reflecting continued concerns about execution and valuation.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) CFO Jeffrey Bertelsen sold 3,860 shares of Rigetti Computing stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.89, for a total transaction of $65,195.40. Following the completion of the transaction, the chief financial officer directly owned 168,067 shares in the company, valued at approximately $2,838,651.63. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rigetti Computing Stock Performance

Shares of NASDAQ:RGTI traded down $0.93 during mid-day trading on Thursday, hitting $16.07. The stock had a trading volume of 19,838,649 shares, compared to its average volume of 32,422,680. The company has a market cap of $5.36 billion, a PE ratio of -17.86 and a beta of 1.99. Rigetti Computing, Inc. has a 12-month low of $12.53 and a 12-month high of $58.15. The company's 50 day moving average is $17.53 and its 200-day moving average is $17.74.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.50%. The firm had revenue of $5.14 million during the quarter, compared to analyst estimates of $5.09 million. On average, equities research analysts predict that Rigetti Computing, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Rigetti Computing from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Benchmark assumed coverage on Rigetti Computing in a research note on Monday, July 27th. They issued a "buy" rating and a $25.00 price objective for the company. Weiss Ratings lowered Rigetti Computing from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. Wedbush assumed coverage on Rigetti Computing in a research note on Monday, August 3rd. They set an "outperform" rating and a $40.00 target price on the stock. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 target price on shares of Rigetti Computing in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Rigetti Computing currently has an average rating of "Moderate Buy" and a consensus price target of $30.67.

Institutional Investors Weigh In On Rigetti Computing

A number of institutional investors have recently modified their holdings of the stock. Kestra Private Wealth Services LLC grew its holdings in shares of Rigetti Computing by 1.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company's stock valued at $831,000 after acquiring an additional 535 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Rigetti Computing by 10.2% during the fourth quarter. Global Retirement Partners LLC now owns 6,656 shares of the company's stock worth $147,000 after acquiring an additional 615 shares in the last quarter. Comerica Bank raised its holdings in shares of Rigetti Computing by 2.1% during the third quarter. Comerica Bank now owns 31,901 shares of the company's stock worth $950,000 after acquiring an additional 653 shares in the last quarter. Main Management ETF Advisors LLC boosted its position in Rigetti Computing by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 64,206 shares of the company's stock valued at $1,422,000 after purchasing an additional 656 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Rigetti Computing by 138.4% during the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company's stock valued at $27,000 after purchasing an additional 707 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company's stock.

Trending Headlines about Rigetti Computing

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

• Positive Sentiment: Rigetti created a dedicated Systems Delivery organization to support growing demand for on-premises quantum systems. David Rivas was appointed Chief Operating Officer to oversee manufacturing, delivery, customer-facing engineering, and commercial operations, while Andrew Bestwick, Ph.D., became Chief Technology Officer to focus on chip and processor development. The company is targeting 99.5% median two-qubit gate fidelity for its Cepheus-1-108Q system. Rigetti operating structure announcement
• Positive Sentiment: Second-quarter revenue increased to $5.14 million from $1.80 million a year earlier, and Rigetti received a U.S. Department of Commerce letter of intent for up to $100 million in quantum research and development support. New system deliveries involving partners including Nvidia and HPE also strengthen the commercial-growth narrative, although the company remains deeply unprofitable. Rigetti revenue and R&D support article
• Neutral Sentiment: Analyst coverage remains broadly bullish, with previously published price targets ranging from $25 to $40, well above recent trading levels. However, these targets are based on expectations for future technology and commercial execution rather than current profitability. Rigetti analyst views
• Negative Sentiment: Investors viewed the separation of delivery and chip-development leadership as a major shake-up, intensifying concerns that Rigetti may have needed a reorganization to address execution challenges. The upcoming resignation of board member Dr. Ray Johnson adds to the perception of leadership turnover. Rigetti leadership shake-up article
• Negative Sentiment: Quantum-computing stocks were sold broadly, including Rigetti, IonQ, and D-Wave, without a clear company-specific catalyst. The sector remains highly sensitive to interest rates and risk appetite because these companies are pre-profit and richly valued. Quantum stock selloff article
• Negative Sentiment: Despite strong revenue growth, Rigetti’s second-quarter net loss widened to $52.61 million from $39.65 million a year earlier. The company’s continuing losses and reported insider selling further reinforce investor concerns about valuation and cash usage.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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