Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Bessemer Venture Partners X. L. Sells 580,125 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $1.63, for a total value of $945,603.75. Following the completion of the transaction, the insider now owns 19,002,093 shares of the company’s stock, valued at approximately $30,973,411.59. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Rigetti Computing Stock Performance

NASDAQ:RGTI opened at $1.30 on Tuesday. The firm has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $1.02. Rigetti Computing, Inc. has a fifty-two week low of $1.13 and a fifty-two week high of $1.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Rigetti Computing during the second quarter valued at approximately $25,000. Cetera Advisors LLC purchased a new position in Rigetti Computing in the first quarter worth about $38,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Rigetti Computing during the 2nd quarter valued at about $27,000. PEAK6 Investments LLC bought a new stake in Rigetti Computing during the first quarter valued at approximately $40,000. Finally, Caprock Group LLC bought a new position in Rigetti Computing in the second quarter worth approximately $42,000.

Analysts Set New Price Targets

Several equities analysts have commented on RGTI shares. Needham & Company LLC reissued a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a research report on Wednesday, November 13th. Benchmark reissued a “buy” rating and set a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. Finally, B. Riley upped their price objective on shares of Rigetti Computing from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

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.