Rigetti Computing, Inc. $RGTI Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC raised its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI) by 37.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 918,829 shares of the company’s stock after purchasing an additional 250,827 shares during the quarter. Clearbridge Investments LLC owned about 0.28% of Rigetti Computing worth $20,352,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Danske Bank A S acquired a new position in Rigetti Computing in the third quarter valued at $30,000. Parallel Advisors LLC increased its stake in Rigetti Computing by 403.2% in the third quarter. Parallel Advisors LLC now owns 1,087 shares of the company’s stock valued at $32,000 after purchasing an additional 871 shares during the period. Clearstead Advisors LLC acquired a new position in Rigetti Computing in the third quarter valued at $35,000. Larson Financial Group LLC increased its stake in Rigetti Computing by 138.4% in the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock valued at $27,000 after purchasing an additional 707 shares during the period. Finally, Ancora Advisors LLC acquired a new position in Rigetti Computing in the third quarter valued at $38,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Rigetti Computing

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

• Positive Sentiment: Bernstein analyst Mark Newman said the market may be overlooking Rigetti’s opportunity in quantum computing, with the stock seen as an early winner alongside Infleqtion thanks to government funding, partnerships, and commercial progress. Rigetti Computing Is One of This Analyst’s Top Quantum Picks. The Case for Buying.
• Positive Sentiment: Rigetti advanced its quantum roadmap with a 108-qubit Cepheus system, rising customer adoption, and a stated goal of reaching quantum advantage within three years, which supports the long-term growth narrative. Rigetti Advances Toward Quantum Advantage With Cepheus Push
• Neutral Sentiment: Multiple articles highlighted continued investor interest in RGTI as a trending quantum stock, reinforcing that the name remains highly watched by retail and market participants. Rigetti Computing, Inc. (RGTI) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: InsiderMonkey noted Rigetti remains among the better-known quantum computing stocks for hedge funds, reflecting interest in the sector rather than a specific new catalyst. Is Rigetti Computing, Inc. (RGTI) Among the Best Quantum Computing Stocks to Invest In According to Hedge Funds?
• Negative Sentiment: Broader market weakness in tech and AI stocks is weighing on sentiment, with risk-off trading and profit taking pressuring Nasdaq names like Rigetti. Stock Market Today, June 9: Risk-Off Sentiment Pressures Nasdaq
• Negative Sentiment: A MarketBeat piece argued that legacy tech giants such as Intel and IBM are intensifying competition in quantum computing, which could make life harder for pure-play companies like Rigetti. The Case for Intel Over Pure-Play Quantum Firms (RGTI)

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RGTI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rigetti Computing in a research note on Tuesday, June 2nd. Benchmark dropped their price target 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. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price target on shares of Rigetti Computing in a research note on Thursday, March 5th. TD Cowen lowered shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $31.00 price target on shares of Rigetti Computing in a research note on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.18.

Insider Buying and Selling at Rigetti Computing

In other news, CTO David Rivas sold 499,328 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.40, for a total value of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares of the company’s stock, valued at $8,279,003. This represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $22.95, for a total transaction of $84,501.90. Following the sale, the chief financial officer directly owned 171,927 shares of the company’s stock, valued at approximately $3,945,724.65. The trade was a 2.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 521,769 shares of company stock valued at $13,198,140 in the last three months. Company insiders own 1.60% of the company’s stock.

Rigetti Computing Price Performance

Shares of NASDAQ RGTI opened at $19.69 on Wednesday. Rigetti Computing, Inc. has a 12-month low of $10.30 and a 12-month high of $58.15. The company has a market capitalization of $6.54 billion, a PE ratio of -22.63 and a beta of 1.88. The firm’s 50-day moving average is $18.95 and its two-hundred day moving average is $20.27.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.40 million for the quarter, compared to the consensus estimate of $4.09 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 198.9% compared to the same quarter last year. On average, analysts forecast that Rigetti Computing, Inc. will post -0.22 EPS for the current fiscal year.

Rigetti Computing 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.