Veracity Capital LLC Invests $410,000 in Rigetti Computing, Inc. (NASDAQ:RGTI)

Veracity Capital LLC purchased a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, Holdings Channel.com reports. The fund purchased 26,863 shares of the company’s stock, valued at approximately $410,000.

Several other institutional investors have also recently bought and sold shares of RGTI. Traynor Capital Management Inc. acquired a new stake in shares of Rigetti Computing in the fourth quarter valued at $244,000. SG Americas Securities LLC grew its holdings in Rigetti Computing by 10.5% during the 4th quarter. SG Americas Securities LLC now owns 69,856 shares of the company’s stock worth $1,066,000 after acquiring an additional 6,654 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in Rigetti Computing in the 4th quarter valued at about $252,000. LVW Advisors LLC bought a new position in shares of Rigetti Computing in the fourth quarter worth about $305,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Rigetti Computing in the fourth quarter worth about $1,624,000. Institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling

In other Rigetti Computing news, major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $1.63, for a total value of $945,603.75. Following the sale, the insider now directly owns 19,002,093 shares in the company, valued at approximately $30,973,411.59. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $3.00, for a total transaction of $375,000.00. Following the completion of the transaction, the director now directly owns 1,313,864 shares of the company’s stock, valued at $3,941,592. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,955,125 shares of company stock valued at $5,489,354 over the last three months. Company insiders own 2.81% of the company’s stock.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $13.47 on Friday. The firm has a fifty day moving average of $8.45 and a two-hundred day moving average of $3.59. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. Rigetti Computing, Inc. has a 52 week low of $0.66 and a 52 week high of $21.42.

Analyst Upgrades and Downgrades

RGTI has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $2.00 price target on shares of Rigetti Computing in a research note on Wednesday, November 13th. Benchmark reissued a “buy” rating and issued a $2.50 target price on shares of Rigetti Computing in a research note on Thursday, November 14th. Craig Hallum started coverage on Rigetti Computing in a research note on Friday, December 20th. They set a “buy” rating and a $12.00 price target on the stock. Finally, B. Riley lifted their price objective on Rigetti Computing from $4.00 to $8.50 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $5.70.

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.