Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells $1,954,893.28 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the business’s 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 transaction, the insider now owns 19,582,218 shares in the company, valued at $29,764,971.36. This represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Rigetti Computing Price Performance

NASDAQ:RGTI opened at $1.55 on Friday. Rigetti Computing, Inc. has a one year low of $1.13 and a one year high of $1.89. The company’s 50-day simple moving average is $1.00 and its 200 day simple moving average is $1.02.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RGTI. Benchmark reiterated a “buy” rating and set a $2.50 price target on shares of Rigetti Computing in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price target on shares of Rigetti Computing in a research report on Wednesday. Finally, B. Riley boosted their price target on shares of Rigetti Computing from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Wednesday.

Institutional Investors Weigh In On Rigetti Computing

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

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.