Silverleafe Capital Partners LLC Makes New $554,000 Investment in Rigetti Computing, Inc. (NASDAQ:RGTI)

Silverleafe Capital Partners LLC purchased a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 36,287 shares of the company’s stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RGTI. Geode Capital Management LLC increased its position in Rigetti Computing by 20.6% during the third 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 during the last quarter. Penserra Capital Management LLC raised its holdings 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 acquiring an additional 407,389 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Rigetti Computing by 3,788.5% during the second quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock worth $439,000 after acquiring an additional 400,143 shares during the last quarter. State Street Corp increased its stake in Rigetti Computing by 12.9% in the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after acquiring an additional 309,831 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of Rigetti Computing during the 2nd quarter valued at about $161,000. 35.38% of the stock is owned by institutional investors.

Rigetti Computing Price Performance

Shares of Rigetti Computing stock traded up $0.20 during trading hours on Monday, reaching $19.22. 99,991,142 shares of the company’s stock were exchanged, compared to its average volume of 148,779,984. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year 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 company has a market capitalization of $3.70 billion, a P/E ratio of -50.58 and a beta of 1.31. The business has a fifty day moving average of $5.78 and a two-hundred day moving average of $2.63.

Analysts Set New Price Targets

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

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 transaction, the director now owns 1,313,864 shares of the company’s stock, valued at $3,941,592. This represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $1,954,893.28. Following the sale, the insider now owns 19,582,218 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 2,955,125 shares of company stock valued at $5,489,354. 2.81% of the stock is owned by company insiders.

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.