SG Americas Securities LLC Grows Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

SG Americas Securities LLC boosted its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,856 shares of the company’s stock after buying an additional 6,654 shares during the quarter. SG Americas Securities LLC’s holdings in Rigetti Computing were worth $1,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Rigetti Computing by 20.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock valued at $2,837,000 after acquiring an additional 617,506 shares in the last quarter. Penserra Capital Management LLC increased its stake in Rigetti Computing by 9.8% during the third quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock valued at $3,565,000 after purchasing an additional 407,389 shares during the last quarter. State Street Corp raised its holdings in shares of Rigetti Computing by 12.9% during 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 during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Rigetti Computing by 14.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock worth $901,000 after buying an additional 144,742 shares during the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Rigetti Computing by 1,121.1% in the 2nd quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock worth $167,000 after buying an additional 143,697 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RGTI. 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. Needham & Company LLC reissued a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a report on Wednesday, November 13th. B. Riley boosted their price objective on Rigetti Computing from $4.00 to $8.50 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Craig Hallum began coverage on Rigetti Computing in a research report on Friday, December 20th. They issued a “buy” rating and a $12.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $5.70.

Insider Activity

In other news, major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1.52, for a total transaction of $1,085,106.72. Following the transaction, the insider now directly owns 20,868,332 shares in the company, valued at approximately $31,719,864.64. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael S. Clifton sold 125,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $3.00, for a total value of $375,000.00. Following the transaction, the director now directly owns 1,313,864 shares in the company, valued at $3,941,592. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,955,125 shares of company stock worth $5,489,354. Corporate insiders own 2.81% of the company’s stock.

Rigetti Computing Stock Performance

RGTI opened at $13.08 on Wednesday. The stock’s 50 day simple moving average is $9.15 and its 200-day simple moving average is $3.86. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2.52 billion, a PE ratio of -34.42 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.

Rigetti Computing 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.