Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Bessemer Venture Partners X. L. Sells 713,886 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 20,868,332 shares of the company’s stock, valued at $31,719,864.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Rigetti Computing Price Performance

Shares of NASDAQ:RGTI opened at $1.49 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.29 and a current ratio of 4.29. The company has a market capitalization of $284.95 million, a PE ratio of -2.87 and a beta of 2.13. The stock has a fifty day moving average of $0.97 and a 200-day moving average of $1.01. Rigetti Computing, Inc. has a one year low of $1.13 and a one year high of $1.69.

Institutional Investors Weigh In On Rigetti Computing

Several hedge funds have recently modified their holdings of RGTI. SG Americas Securities LLC acquired a new stake in Rigetti Computing during the 2nd quarter worth about $25,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Rigetti Computing in the 2nd quarter valued at approximately $27,000. Cetera Advisors LLC acquired a new position in Rigetti Computing in the 1st quarter worth approximately $38,000. PEAK6 Investments LLC acquired a new position in Rigetti Computing in the 1st quarter worth approximately $40,000. Finally, Caprock Group LLC purchased a new position in Rigetti Computing during the 2nd quarter worth approximately $42,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. B. Riley assumed coverage on Rigetti Computing in a research note on Thursday, July 25th. They set a “buy” rating and a $3.00 target price for the company. Needham & Company LLC reduced their price objective on shares of Rigetti Computing from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

About Rigetti Computing

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.