Veracity Capital LLC Purchases Shares of 26,863 Rigetti Computing, Inc. (NASDAQ:RGTI)

Veracity Capital LLC acquired a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,863 shares of the company’s stock, valued at approximately $410,000.

Other large investors have also modified their holdings of the company. Arete Wealth Advisors LLC acquired a new position in Rigetti Computing during the 3rd quarter worth $45,000. SG Americas Securities LLC lifted its position in shares of Rigetti Computing by 166.9% during the 3rd quarter. SG Americas Securities LLC now owns 63,202 shares of the company’s stock worth $49,000 after purchasing an additional 39,526 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Rigetti Computing by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock worth $49,000 after purchasing an additional 2,045 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Rigetti Computing during the 2nd quarter valued at approximately $88,000. Finally, Barclays PLC grew its holdings in Rigetti Computing by 275.6% in the 3rd quarter. Barclays PLC now owns 185,959 shares of the company’s stock valued at $145,000 after buying an additional 136,443 shares during the last quarter. 35.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RGTI shares. Benchmark reissued a “buy” rating and issued a $2.50 price objective on shares of Rigetti Computing in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a report on Wednesday, November 13th. Craig Hallum initiated coverage on shares of Rigetti Computing in a research report on Friday, December 20th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, B. Riley upped their price objective on shares of Rigetti Computing from $4.00 to $8.50 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.70.

Rigetti Computing Stock Performance

RGTI opened at $13.47 on Friday. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $8.45 and its two-hundred day moving average price is $3.59. Rigetti Computing, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $21.42.

Insider Activity

In related news, major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1.52, for a total transaction of $1,085,106.72. Following the completion of the transaction, the insider now owns 20,868,332 shares in the company, valued at $31,719,864.64. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $4.00, for a total value of $500,000.00. Following the completion of the sale, the director now directly owns 1,188,864 shares in the company, valued at approximately $4,755,456. This represents a 9.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,955,125 shares of company stock worth $5,489,354. Corporate insiders own 2.81% of the company’s stock.

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.