XTX Topco Ltd Trims Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

XTX Topco Ltd reduced its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 16.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,950 shares of the company’s stock after selling 25,565 shares during the quarter. XTX Topco Ltd owned approximately 0.07% of Rigetti Computing worth $103,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RGTI. Penserra Capital Management LLC lifted its holdings in Rigetti Computing by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock valued at $3,565,000 after buying an additional 407,389 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Rigetti Computing by 3,788.5% in the second quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock valued at $439,000 after purchasing an additional 400,143 shares during the period. State Street Corp grew its stake in Rigetti Computing by 12.9% in the third 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 in the last quarter. Rhumbline Advisers purchased a new position in Rigetti Computing during the 2nd quarter worth $161,000. Finally, Charles Schwab Investment Management Inc. raised its position 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 valued at $901,000 after purchasing an additional 144,742 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $2.00 price target on shares of Rigetti Computing in a research note on Wednesday, November 13th. B. Riley raised their target price on shares of Rigetti Computing from $3.50 to $4.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Craig Hallum began coverage on shares of Rigetti Computing in a report on Friday. They issued a “buy” rating and a $12.00 price target for the company. Finally, Benchmark reiterated a “buy” rating and set a $2.50 price objective on shares of Rigetti Computing in a research note on Thursday, November 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $4.80.

Insider Transactions at Rigetti Computing

In other news, Director Michael S. Clifton sold 125,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $3.00, for a total value of $375,000.00. Following the completion of the sale, the director now owns 1,313,864 shares of the company’s stock, valued at $3,941,592. This trade represents a 8.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $1.52, for a total value of $1,954,893.28. Following the transaction, the insider now directly owns 19,582,218 shares in the company, valued at $29,764,971.36. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,955,125 shares of company stock valued at $5,489,354 in the last 90 days. Insiders own 2.81% of the company’s stock.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $9.37 on Friday. The company has a market capitalization of $1.80 billion, a PE ratio of -24.66 and a beta of 2.72. The company has a 50-day simple moving average of $2.94 and a two-hundred day simple moving average of $1.62. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $12.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84.

About Rigetti Computing

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.