Barclays PLC Increases Stake in Rigetti Computing, Inc. (NASDAQ:RGTI)

Barclays PLC boosted its stake in Rigetti Computing, Inc. (NASDAQ:RGTI) by 275.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,959 shares of the company’s stock after purchasing an additional 136,443 shares during the quarter. Barclays PLC owned about 0.10% of Rigetti Computing worth $145,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Caprock Group LLC acquired a new position in shares of Rigetti Computing in the 2nd quarter valued at $42,000. SG Americas Securities LLC raised its position in shares of Rigetti Computing by 166.9% in the 3rd quarter. SG Americas Securities LLC now owns 63,202 shares of the company’s stock worth $49,000 after buying an additional 39,526 shares during the period. Point72 DIFC Ltd acquired a new position in Rigetti Computing in the second quarter valued at $88,000. Rhumbline Advisers purchased a new stake in Rigetti Computing during the second quarter valued at about $161,000. Finally, XTX Topco Ltd increased its stake in Rigetti Computing by 1,121.1% during the second quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock worth $167,000 after acquiring an additional 143,697 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Rigetti Computing

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RGTI shares. B. Riley lifted their price objective on Rigetti Computing from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Craig Hallum assumed coverage on shares of Rigetti Computing in a research note on Friday, December 20th. They set a “buy” rating and a $12.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $2.00 target price on shares of Rigetti Computing in a research note on Wednesday, November 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $4.80.

Rigetti Computing Trading Down 5.7 %

RGTI opened at $18.39 on Wednesday. The firm’s 50 day moving average is $6.48 and its 200-day moving average is $2.89. Rigetti Computing, Inc. has a 52-week low of $0.66 and a 52-week high of $21.42. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3.54 billion, a P/E ratio of -48.39 and a beta of 1.31.

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.