UNICOM Systems Inc. Acquires New Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

UNICOM Systems Inc. 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. The fund acquired 285,000 shares of the company’s stock, valued at approximately $4,349,000. Rigetti Computing comprises 1.1% of UNICOM Systems Inc.’s portfolio, making the stock its 16th biggest position. UNICOM Systems Inc. owned 0.15% of Rigetti Computing at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Spire Wealth Management bought a new position in shares of Rigetti Computing during the fourth quarter valued at about $46,000. Activest Wealth Management bought a new position in Rigetti Computing during the 4th quarter worth approximately $52,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Rigetti Computing during the 4th quarter worth approximately $76,000. Masso Torrence Wealth Management Inc. purchased a new position in Rigetti Computing in the 4th quarter worth approximately $153,000. Finally, SkyOak Wealth LLC bought a new stake in Rigetti Computing in the fourth quarter valued at approximately $160,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RGTI. Benchmark reiterated 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 restated a “buy” rating and issued a $2.00 price objective on shares of Rigetti Computing in a report on Wednesday, November 13th. Craig Hallum started coverage on shares of Rigetti Computing in a research report on Friday, December 20th. They set a “buy” rating and a $12.00 price target on the stock. Finally, B. Riley increased 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.70.

Rigetti Computing Stock Down 3.9 %

RGTI stock opened at $12.35 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84. Rigetti Computing, Inc. has a 1-year low of $0.66 and a 1-year high of $21.42. The stock has a market capitalization of $2.37 billion, a P/E ratio of -32.50 and a beta of 1.26. The business has a fifty day moving average price of $11.33 and a 200-day moving average price of $4.71.

Insider Activity at Rigetti Computing

In other news, major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was 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 $30,973,411.59. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $3.00, for a total value of $375,000.00. Following the transaction, the director now owns 1,313,864 shares of the company’s stock, valued at approximately $3,941,592. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 955,125 shares of company stock worth $2,449,354. 2.81% of the stock is owned by company insiders.

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.