Penserra Capital Management LLC Grows Stock Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

Penserra Capital Management LLC grew its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,553,633 shares of the company’s stock after purchasing an additional 407,389 shares during the quarter. Penserra Capital Management LLC owned approximately 2.38% of Rigetti Computing worth $3,565,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RGTI. Vanguard Group Inc. lifted its position in Rigetti Computing by 17.0% during the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock worth $7,933,000 after buying an additional 753,110 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rigetti Computing by 14.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock worth $901,000 after acquiring an additional 144,742 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Rigetti Computing by 3,788.5% in the second quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock worth $439,000 after acquiring an additional 400,143 shares during the last quarter. XTX Topco Ltd grew its holdings in Rigetti Computing by 1,121.1% in the second quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock valued at $167,000 after purchasing an additional 143,697 shares during the period. Finally, Rhumbline Advisers acquired a new position in Rigetti Computing during the second quarter worth approximately $161,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Stock Performance

Shares of RGTI opened at $2.75 on Tuesday. The firm has a market cap of $528.83 million, a price-to-earnings ratio of -7.24 and a beta of 2.13. The business’s 50 day moving average is $1.13 and its two-hundred day moving average is $1.03. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. Rigetti Computing, Inc. has a 52-week low of $1.13 and a 52-week high of $3.37.

Analyst Ratings Changes

A number of brokerages have weighed in on RGTI. B. Riley lifted their price target on shares of Rigetti Computing from $3.50 to $4.00 and gave the company a “buy” rating in a report on Monday. Benchmark restated a “buy” rating and issued a $2.50 price objective on shares of Rigetti Computing in a report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a report on Wednesday, November 13th.

Insider Transactions at Rigetti Computing

In other news, Director Helene Gail Sandford sold 43,200 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total transaction of $35,424.00. Following the sale, the director now directly owns 257,752 shares in the company, valued at approximately $211,356.64. This represents a 14.35 % 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. Also, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $3.00, for a total value of $375,000.00. Following the transaction, the director now owns 1,313,864 shares of the company’s stock, valued at $3,941,592. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,748,325 shares of company stock worth $4,396,028.

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.