31,300 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Bought by Mark Sheptoff Financial Planning LLC

Mark Sheptoff Financial Planning LLC bought a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,300 shares of the company’s stock, valued at approximately $478,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Rigetti Computing by 81.7% in the fourth quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company’s stock valued at $179,249,000 after purchasing an additional 5,280,128 shares in the last quarter. Geode Capital Management LLC boosted its position in Rigetti Computing by 20.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after acquiring an additional 617,506 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Rigetti Computing by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after acquiring an additional 407,389 shares in the last quarter. State Street Corp raised its holdings in shares of Rigetti Computing by 12.9% in the third quarter. State Street Corp now owns 2,715,223 shares of the company’s stock valued at $2,126,000 after purchasing an additional 309,831 shares during the last quarter. Finally, UNICOM Systems Inc. bought a new stake in shares of Rigetti Computing in the fourth quarter worth $4,349,000. Institutional investors own 35.38% of the company’s stock.

Analyst Ratings Changes

RGTI has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price target on shares of Rigetti Computing in a research note on Thursday, March 6th. Benchmark reiterated a “buy” rating and set a $14.00 target price on shares of Rigetti Computing in a report on Thursday, March 6th. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a research note on Thursday, March 6th. B. Riley upped their price objective on Rigetti Computing from $8.50 to $15.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Craig Hallum began coverage on shares of Rigetti Computing in a research note on Friday, December 20th. They issued a “buy” rating and a $12.00 target price for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Rigetti Computing presently has a consensus rating of “Buy” and an average price target of $14.50.

Rigetti Computing Price Performance

Shares of NASDAQ RGTI opened at $9.82 on Wednesday. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The company has a market cap of $2.81 billion, a PE ratio of -25.84 and a beta of 1.36. The business’s 50 day moving average price is $10.85 and its two-hundred day moving average price is $6.65. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. The business had revenue of $2.27 million for the quarter, compared to analysts’ expectations of $2.40 million. During the same quarter in the prior year, the business earned ($0.04) EPS. On average, analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the completion of the sale, the chief technology officer now directly owns 1,094,738 shares in the company, valued at $8,495,166.88. This trade represents a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.81% of the stock is currently owned by corporate insiders.

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.