Brighton Jones LLC Sells 61,766 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

Brighton Jones LLC lowered its stake in Rigetti Computing, Inc. (NASDAQ:RGTI) by 50.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,766 shares of the company’s stock after selling 61,766 shares during the quarter. Brighton Jones LLC’s holdings in Rigetti Computing were worth $66,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Rigetti Computing by 17.0% in the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock valued at $7,933,000 after purchasing an additional 753,110 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in Rigetti Computing by 3,302.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,020,591 shares of the company’s stock worth $1,005,000 after buying an additional 990,591 shares during the period. PEAK6 Investments LLC bought a new position in Rigetti Computing in the first quarter worth approximately $40,000. Cetera Advisors LLC acquired a new stake in Rigetti Computing in the first quarter valued at approximately $38,000. Finally, Caprock Group LLC bought a new stake in shares of Rigetti Computing during the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. B. Riley initiated coverage on Rigetti Computing in a report on Thursday, July 25th. They issued a “buy” rating and a $3.00 target price on the stock. Needham & Company LLC dropped their price objective on shares of Rigetti Computing from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Insider Buying and Selling

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total transaction of $35,424.00. Following the transaction, the director now owns 257,752 shares of the company’s stock, valued at approximately $211,356.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 83,200 shares of company stock worth $73,624. 2.60% of the stock is owned by insiders.

Rigetti Computing Stock Down 3.6 %

RGTI stock opened at $0.77 on Tuesday. The firm has a market capitalization of $131.52 million, a PE ratio of -1.44 and a beta of 2.30. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.03. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $2.36. The stock’s 50 day moving average is $0.91 and its 200-day moving average is $1.13.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $3.09 million for the quarter, compared to the consensus estimate of $3.53 million. Rigetti Computing had a negative net margin of 538.72% and a negative return on equity of 54.61%. During the same period in the previous year, the firm earned ($0.13) EPS. Sell-side analysts expect that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

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.