Rigetti Computing (NASDAQ:RGTI) CFO Jeffrey Bertelsen Sells 3,682 Shares of Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) CFO Jeffrey Bertelsen sold 3,682 shares of Rigetti Computing stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $22.95, for a total value of $84,501.90. Following the sale, the chief financial officer owned 171,927 shares of the company’s stock, valued at approximately $3,945,724.65. This represents a 2.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rigetti Computing Trading Down 5.1%

Shares of NASDAQ:RGTI opened at $25.07 on Wednesday. The stock’s 50-day moving average price is $17.20 and its two-hundred day moving average price is $20.60. Rigetti Computing, Inc. has a 12-month low of $10.30 and a 12-month high of $58.15. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of -28.82 and a beta of 1.79.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The firm had revenue of $4.40 million for the quarter, compared to analyst estimates of $4.09 million. During the same period last year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 198.9% on a year-over-year basis. As a group, research analysts forecast that Rigetti Computing, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on RGTI. TD Cowen downgraded Rigetti Computing from a “buy” rating to a “hold” rating in a report on Thursday, February 12th. Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a report on Saturday. Mizuho dropped their target price on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a report on Thursday, March 5th. Finally, Northland Securities assumed coverage on Rigetti Computing in a report on Monday, April 20th. They set a “market perform” rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.18.

More Rigetti Computing News

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

• Positive Sentiment: Rigetti remains a key beneficiary of the federal push into quantum computing, with market commentary pointing to hundreds of millions in potential government support for domestic quantum technology and foundry development. Quantum Stocks Just Got a Lifeline—Who Benefits Most? (RGTI)
• Positive Sentiment: Investor interest in RGTI has surged, with unusually heavy call option buying suggesting traders are positioning for more upside. Rigetti Computing Sees Unusually High Options Volume (NASDAQ:RGTI)
• Neutral Sentiment: Multiple news items highlighted Rigetti as one of the most searched and most talked-about quantum stocks, reinforcing that the name is attracting speculative attention. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Negative Sentiment: Recent insider sales by the CTO and CFO may weigh on sentiment, even though both transactions were reportedly made to cover tax withholding obligations tied to equity vesting. David Rivas insider transaction

Institutional Investors Weigh In On Rigetti Computing

Several hedge funds and other institutional investors have recently bought and sold shares of RGTI. Penserra Capital Management LLC grew its stake in Rigetti Computing by 43.8% during the 3rd quarter. Penserra Capital Management LLC now owns 2,445,818 shares of the company’s stock worth $72,860,000 after buying an additional 744,577 shares during the last quarter. Clear Street Group Inc. bought a new position in Rigetti Computing during the 3rd quarter worth $47,752,000. J. Safra Sarasin Holding AG bought a new position in Rigetti Computing during the 3rd quarter worth $2,576,000. Federated Hermes Inc. grew its stake in Rigetti Computing by 6,219.1% during the 3rd quarter. Federated Hermes Inc. now owns 100,853 shares of the company’s stock worth $3,004,000 after buying an additional 99,257 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Rigetti Computing by 384.2% during the 3rd quarter. Van ECK Associates Corp now owns 548,217 shares of the company’s stock worth $16,331,000 after buying an additional 434,995 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

About Rigetti Computing

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.