Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells $1,954,893.28 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $1.52, for a total transaction of $1,954,893.28. Following the transaction, the insider now owns 19,582,218 shares in the company, valued at approximately $29,764,971.36. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rigetti Computing Stock Down 8.8 %

Shares of RGTI stock opened at $1.55 on Friday. Rigetti Computing, Inc. has a 12 month low of $1.13 and a 12 month high of $1.89. The company has a 50 day simple moving average of $1.00 and a two-hundred day simple moving average of $1.02.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RGTI. Benchmark restated a “buy” rating and set a $2.50 price objective on shares of Rigetti Computing in a research report on Thursday. B. Riley increased their price objective on shares of Rigetti Computing from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a research report on Wednesday.

Institutional Trading of Rigetti Computing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGTI. Vanguard Group Inc. increased its stake 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 worth $7,933,000 after purchasing an additional 753,110 shares in the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Rigetti Computing in the first quarter worth $40,000. Cetera Advisors LLC purchased a new stake in shares of Rigetti Computing in the first quarter worth $38,000. SG Americas Securities LLC purchased a new stake in shares of Rigetti Computing in the second quarter worth $25,000. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Rigetti Computing in the second quarter worth $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.