Rhumbline Advisers Purchases 31,895 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

Rhumbline Advisers increased its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,075 shares of the company’s stock after purchasing an additional 31,895 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Rigetti Computing worth $3,572,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of Rigetti Computing by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock worth $49,000 after buying an additional 2,045 shares during the period. Spire Wealth Management bought a new position in Rigetti Computing during the 4th quarter worth approximately $46,000. Activest Wealth Management acquired a new position in Rigetti Computing during the fourth quarter valued at approximately $52,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Rigetti Computing in the fourth quarter valued at approximately $76,000. Finally, SG Americas Securities LLC increased its stake in Rigetti Computing by 10.5% in the fourth quarter. SG Americas Securities LLC now owns 69,856 shares of the company’s stock valued at $1,066,000 after purchasing an additional 6,654 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Rigetti Computing Stock Performance

Shares of RGTI stock opened at $8.46 on Friday. The stock has a market capitalization of $1.63 billion, a PE ratio of -22.26 and a beta of 1.26. The business’s 50 day simple moving average is $12.43 and its 200 day simple moving average is $5.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $21.42.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Craig Hallum started coverage on shares of Rigetti Computing in a research report on Friday, December 20th. They set a “buy” rating and a $12.00 price objective for the company. Benchmark increased their target price on Rigetti Computing from $2.50 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 21st. B. Riley boosted their price target on Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a research report on Wednesday, November 13th.

Insiders Place Their Bets

In related news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction on Monday, December 9th. The shares were sold at an average price of $5.03, for a total value of $628,750.00. Following the completion of the sale, the director now owns 1,063,864 shares of the company’s stock, valued at approximately $5,351,235.92. This trade represents a 10.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.81% of the company’s stock.

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.