Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells $1,085,106.72 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1.52, for a total value of $1,085,106.72. Following the completion of the transaction, the insider now directly owns 20,868,332 shares of the company’s stock, valued at approximately $31,719,864.64. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $1.55 on Friday. The firm has a 50 day moving average price of $1.00 and a 200 day moving average price of $1.02. Rigetti Computing, Inc. has a 52-week low of $1.13 and a 52-week high of $1.89.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RGTI. Benchmark reiterated a “buy” rating and set a $2.50 target price on shares of Rigetti Computing in a research report on Thursday. B. Riley increased their target price on Rigetti Computing from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a research report on Wednesday.

Hedge Funds Weigh In On Rigetti Computing

Several institutional investors have recently modified their holdings of RGTI. Vanguard Group Inc. boosted its holdings in shares of Rigetti Computing by 17.0% in the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock valued at $7,933,000 after buying an additional 753,110 shares during the period. PEAK6 Investments LLC acquired a new position in Rigetti Computing in the 1st quarter worth $40,000. Cetera Advisors LLC bought a new position in Rigetti Computing during the 1st quarter worth about $38,000. SG Americas Securities LLC acquired a new stake in shares of Rigetti Computing in the 2nd quarter valued at about $25,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Rigetti Computing in the second quarter valued at about $27,000.

Rigetti Computing Company 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.