Rigetti Computing (NASDAQ:RGTI) CTO David Rivas Sells 18,759 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) CTO David Rivas sold 18,759 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $22.96, for a total transaction of $430,706.64. Following the completion of the transaction, the chief technology officer directly owned 713,155 shares of the company’s stock, valued at approximately $16,374,038.80. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Rivas also recently made the following trade(s):

• On Tuesday, March 10th, David Rivas sold 36,719 shares of Rigetti Computing stock. The stock was sold at an average price of $17.52, for a total transaction of $643,316.88.

Rigetti Computing Stock Down 5.1%

Shares of NASDAQ RGTI traded down $1.35 during mid-day trading on Tuesday, reaching $25.07. 88,408,629 shares of the company were exchanged, compared to its average volume of 33,424,715. Rigetti Computing, Inc. has a 52 week low of $10.30 and a 52 week high of $58.15. The stock has a market capitalization of $8.33 billion, a PE ratio of -28.82 and a beta of 1.79. The company’s 50 day moving average price is $17.03 and its 200 day moving average price is $20.69.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.09 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The company’s revenue for the quarter was up 198.9% compared to the same quarter last year. On average, sell-side analysts predict that Rigetti Computing, Inc. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in Rigetti Computing by 7.3% during the first quarter. Janus Henderson Group PLC now owns 199,987 shares of the company’s stock valued at $2,809,000 after buying an additional 13,666 shares during the last quarter. Encore Global Management LP purchased a new stake in Rigetti Computing during the first quarter valued at approximately $1,685,000. Amundi increased its holdings in Rigetti Computing by 124.8% during the first quarter. Amundi now owns 60,012 shares of the company’s stock valued at $843,000 after buying an additional 33,317 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Rigetti Computing by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,651 shares of the company’s stock valued at $65,000 after buying an additional 1,121 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in Rigetti Computing by 22.8% during the first quarter. California State Teachers Retirement System now owns 377,955 shares of the company’s stock valued at $5,306,000 after buying an additional 70,179 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RGTI shares. Northland Securities started coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They set a “market perform” rating and a $20.00 price objective on the stock. TD Cowen lowered shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Benchmark dropped their price objective on shares of Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Needham & Company LLC reissued a “buy” rating and set a $31.00 price objective on shares of Rigetti Computing in a research note on Tuesday, May 12th. Finally, Mizuho dropped their price objective on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.18.

Key Stories Impacting Rigetti Computing

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rigetti is benefiting from news that the federal government plans to provide hundreds of millions of dollars to support domestic quantum foundry and technology development, reinforcing the company’s strategic role in U.S. quantum computing efforts. Quantum Stocks Just Got a Lifeline—Who Benefits Most? (RGTI)
• Positive Sentiment: The stock saw unusually heavy call-option buying, suggesting traders are positioning for more upside and adding to the recent momentum in shares. Rigetti Computing Sees Unusually High Options Volume (NASDAQ:RGTI)
• Positive Sentiment: Rigetti has also been highlighted as one of last week’s biggest movers, with the stock posting a sharp weekly gain alongside other speculative names, which can attract momentum-focused investors. BB, SIDU, RGTI Stocks Lead Last Week’s Wildest Upswings: Here’s What Happened
• Neutral Sentiment: Broader media attention is also increasing, with articles comparing Rigetti to peers and noting that investors are heavily searching for the stock. This reflects heightened interest, though it does not by itself change fundamentals. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Neutral Sentiment: Competitive commentary remains mixed: a Zacks comparison said QBTS currently has stronger near-term traction, while Rigetti is still positioned around longer-term gate-model quantum breakthroughs. RGTI vs QBTS: Which Quantum Computing Stock Holds More Promise?
• Neutral Sentiment: Additional headlines about Quantinuum’s IPO and a revived quantum IPO market have lifted sentiment for the broader sector, indirectly supporting Rigetti’s valuation narrative. Honeywell-Backed Quantinuum Seeks to Raise $1.05 Billion in IPO

Rigetti Computing Company Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.