Insider Selling: Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells 713,886 Shares of Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of Rigetti Computing stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1.52, for a total value of $1,085,106.72. Following the sale, the insider now directly owns 20,868,332 shares in the company, valued at approximately $31,719,864.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rigetti Computing Trading Down 2.0 %

NASDAQ:RGTI traded down $0.03 on Tuesday, hitting $1.49. The stock had a trading volume of 11,399,626 shares, compared to its average volume of 14,367,848. The company has a fifty day moving average price of $0.97 and a two-hundred day moving average price of $1.01. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.03. Rigetti Computing, Inc. has a 1-year low of $1.13 and a 1-year high of $1.69. The stock has a market cap of $284.95 million, a price-to-earnings ratio of -2.87 and a beta of 2.13.

Wall Street Analysts Forecast Growth

RGTI has been the subject of several analyst reports. Needham & Company LLC reduced their price objective on Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, August 9th. B. Riley began coverage on shares of Rigetti Computing in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock.

Institutional Trading of Rigetti Computing

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Rigetti Computing in the second quarter valued at approximately $25,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Rigetti Computing in the 2nd quarter worth about $27,000. Cetera Advisors LLC bought a new stake in Rigetti Computing in the 1st quarter valued at about $38,000. PEAK6 Investments LLC bought a new stake in Rigetti Computing in the 1st quarter valued at about $40,000. Finally, Caprock Group LLC acquired a new position in shares of Rigetti Computing in the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

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.