Caitong International Asset Management Co. Ltd Sells 108,923 Shares of Rigetti Computing, Inc. $RGTI

Caitong International Asset Management Co. Ltd trimmed its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 95.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,729 shares of the company’s stock after selling 108,923 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Rigetti Computing were worth $127,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RGTI. Royal Bank of Canada boosted its stake in shares of Rigetti Computing by 106.2% during the 1st quarter. Royal Bank of Canada now owns 220,701 shares of the company’s stock worth $1,748,000 after acquiring an additional 113,644 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Rigetti Computing by 138.9% in the 1st quarter. AQR Capital Management LLC now owns 81,047 shares of the company’s stock valued at $642,000 after acquiring an additional 47,115 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Rigetti Computing by 25.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,409 shares of the company’s stock worth $890,000 after purchasing an additional 22,770 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Rigetti Computing by 197.8% in the 1st quarter. NewEdge Advisors LLC now owns 25,592 shares of the company’s stock worth $203,000 after purchasing an additional 16,998 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Rigetti Computing during the first quarter worth approximately $3,115,000. 35.38% of the stock is currently owned by institutional investors.

Rigetti Computing Stock Up 0.1%

Shares of RGTI stock opened at $21.38 on Tuesday. 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 $7.11 billion, a PE ratio of -24.57 and a beta of 1.88. The stock has a 50 day moving average of $20.21 and a 200-day moving average of $20.03.

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, topping 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 last year, the company posted ($0.05) earnings per share. Rigetti Computing’s quarterly revenue was up 198.9% on a year-over-year basis. As a group, equities analysts predict that Rigetti Computing, Inc. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at Rigetti Computing

In other news, Director Ray O. Johnson sold 84,944 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the completion of the transaction, the director owned 95,537 shares of the company’s stock, valued at approximately $1,963,285.35. This represents a 47.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO David Rivas sold 499,328 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.40, for a total transaction 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 approximately $8,279,003. The trade was a 60.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 728,901 shares of company stock valued at $17,546,343 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

RGTI has been the topic of several analyst reports. Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Mizuho decreased their price objective on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Northland Securities initiated coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday, May 12th. Finally, Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Rigetti Computing in a report on Thursday, June 11th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rigetti Computing currently has an average rating of “Moderate Buy” and a consensus target price of $29.18.

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.