Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Acquired by Barclays PLC

Barclays PLC lifted its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 275.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Arete Wealth Advisors LLC purchased a new position in shares of Rigetti Computing during the 3rd quarter worth $45,000. SG Americas Securities LLC grew its holdings in shares of Rigetti Computing by 166.9% during the 3rd quarter. SG Americas Securities LLC now owns 63,202 shares of the company’s stock worth $49,000 after purchasing an additional 39,526 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Rigetti Computing during the 2nd quarter worth $88,000. Rhumbline Advisers purchased a new position in shares of Rigetti Computing during the 2nd quarter worth $161,000. Finally, XTX Topco Ltd grew its holdings in shares of Rigetti Computing by 1,121.1% during the 2nd quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock worth $167,000 after purchasing an additional 143,697 shares during the period. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Rigetti Computing Stock Performance

Shares of RGTI opened at $13.91 on Thursday. The stock has a 50-day simple moving average of $8.21 and a 200-day simple moving average of $3.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. The stock has a market capitalization of $2.67 billion, a PE ratio of -36.60 and a beta of 1.31. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42.

Insider Activity

In other news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction dated 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 transaction, the director now owns 1,313,864 shares in the company, valued at approximately $3,941,592. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 shares were sold at an average price of $1.52, for a total value of $1,954,893.28. Following the completion of the transaction, the insider now owns 19,582,218 shares of the company’s stock, valued at $29,764,971.36. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,955,125 shares of company stock worth $5,489,354.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RGTI. B. Riley raised their target price on Rigetti Computing from $4.00 to $8.50 and gave the company a “buy” rating in a report on Tuesday, January 14th. Craig Hallum began coverage on Rigetti Computing in a report on Friday, December 20th. They set a “buy” rating and a $12.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $2.00 target price on shares of Rigetti Computing in a report on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and set a $2.50 target price on shares of Rigetti Computing in a report on Thursday, November 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $5.70.

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.