Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells $945,603.75 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the business’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 transaction, the insider now owns 19,002,093 shares of the company’s stock, valued at approximately $30,973,411.59. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Price Performance

RGTI stock opened at $1.30 on Tuesday. The company’s fifty day moving average price is $1.04 and its 200-day moving average price is $1.02. Rigetti Computing, Inc. has a one year low of $1.13 and a one year high of $1.89.

Institutional Trading of Rigetti Computing

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

Wall Street Analyst Weigh In

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

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.