Rigetti Computing (NASDAQ:RGTI) COO David Rivas Sells 9,038 Shares

Key Points

• COO David Rivas sold 9,038 Rigetti shares at an average price of $16.79, generating $151,748. The filing states the sale covered tax-withholding obligations, leaving him with 316,907 shares.
• Rigetti shares fell 5.5% to $16.07, while the company remains deeply unprofitable despite quarterly revenue of $5.14 million and a $0.05-per-share loss that matched estimates.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and average price target of $30.67, though some firms have issued sell ratings and investors remain concerned about leadership changes, valuation, and ongoing losses.

Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) COO David Rivas sold 9,038 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.79, for a total transaction of $151,748.02. Following the completion of the transaction, the chief operating officer owned 316,907 shares in the company, valued at $5,320,868.53. This trade represents a 2.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Rivas also recently made the following trade(s):

• On Friday, May 29th, David Rivas sold 499,328 shares of Rigetti Computing stock. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20.
• On Friday, May 22nd, David Rivas sold 18,759 shares of Rigetti Computing stock. The shares were sold at an average price of $22.96, for a total transaction of $430,706.64.

Rigetti Computing Trading Down 5.5%

RGTI stock traded down $0.93 during midday trading on Thursday, reaching $16.07. 19,838,649 shares of the company's stock traded hands, compared to its average volume of 32,422,680. Rigetti Computing, Inc. has a 52-week low of $12.53 and a 52-week high of $58.15. The stock has a market cap of $5.36 billion, a P/E ratio of -17.86 and a beta of 1.99. The stock'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 issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.50%. The business had revenue of $5.14 million for the quarter, compared to analysts' expectations of $5.09 million. As a group, research analysts expect that Rigetti Computing, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark started coverage on Rigetti Computing in a report on Monday, July 27th. They set a "buy" rating and a $25.00 price target for the company. Weiss Ratings downgraded Rigetti Computing from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Wall Street Zen cut Rigetti Computing from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Rosenblatt Securities reiterated a "buy" rating and set a $40.00 price objective on shares of Rigetti Computing in a research note on Friday, August 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday, May 12th. Seven research 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.67.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Rigetti Computing by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company's stock valued at $796,750,000 after acquiring an additional 3,924,171 shares during the period. State Street Corp boosted its stake in shares of Rigetti Computing by 12.0% in the second quarter. State Street Corp now owns 8,853,006 shares of the company's stock worth $104,997,000 after acquiring an additional 946,850 shares during the period. Geode Capital Management LLC boosted its stake in shares of Rigetti Computing by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company's stock worth $174,930,000 after acquiring an additional 196,891 shares during the period. UBS Group AG grew its position in shares of Rigetti Computing by 90.9% during the third quarter. UBS Group AG now owns 3,081,174 shares of the company's stock worth $91,788,000 after purchasing an additional 1,467,483 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Rigetti Computing by 16.3% during the third quarter. Northern Trust Corp now owns 2,846,095 shares of the company's stock worth $84,785,000 after purchasing an additional 397,905 shares in the last quarter. Institutional investors own 35.38% of the company's stock.

More Rigetti Computing News

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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