Rigetti Computing, Inc. (NASDAQ:RGTI) Stock Position Lifted by Brighton Jones LLC

Brighton Jones LLC boosted its stake in Rigetti Computing, Inc. (NASDAQ:RGTI) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,532 shares of the company’s stock after buying an additional 61,766 shares during the quarter. Brighton Jones LLC owned approximately 0.09% of Rigetti Computing worth $122,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RGTI. American Assets Investment Management LLC lifted its holdings in shares of Rigetti Computing by 1,657.8% during the 3rd quarter. American Assets Investment Management LLC now owns 8,789,169 shares of the company’s stock valued at $11,690,000 after buying an additional 8,289,169 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Rigetti Computing by 9.0% during the 3rd quarter. Penserra Capital Management LLC now owns 2,118,751 shares of the company’s stock worth $2,817,000 after purchasing an additional 174,408 shares during the last quarter. Procyon Advisors LLC bought a new position in shares of Rigetti Computing during the 4th quarter valued at $65,000. Gitterman Wealth Management LLC acquired a new stake in shares of Rigetti Computing in the 3rd quarter valued at $27,000. Finally, Orion Portfolio Solutions LLC bought a new stake in Rigetti Computing in the third quarter worth $25,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Insider Buying and Selling at Rigetti Computing

In other news, General Counsel Richard Danis sold 46,326 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $1.97, for a total transaction of $91,262.22. Following the completion of the transaction, the general counsel now directly owns 1,052,141 shares in the company, valued at $2,072,717.77. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 75,599 shares of company stock valued at $142,830 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Rigetti Computing Trading Up 6.9 %

Shares of RGTI opened at $1.40 on Friday. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.09. Rigetti Computing, Inc. has a one year low of $0.36 and a one year high of $3.43. The company’s fifty day moving average price is $1.54 and its 200 day moving average price is $1.28.

Rigetti Computing (NASDAQ:RGTI) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. Rigetti Computing had a negative net margin of 625.42% and a negative return on equity of 59.51%. The business had revenue of $3.38 million during the quarter. Equities research analysts anticipate that Rigetti Computing, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Alliance Global Partners initiated coverage on Rigetti Computing in a report on Friday, March 1st. They set a “buy” rating and a $3.50 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price objective on shares of Rigetti Computing in a research note on Friday, March 15th.

Rigetti Computing 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.