LVW Advisors LLC Takes $305,000 Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

LVW Advisors LLC bought a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,000 shares of the company’s stock, valued at approximately $305,000.

Other large investors have also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC purchased a new stake in shares of Rigetti Computing in the third quarter worth about $45,000. SG Americas Securities LLC lifted its position in shares of Rigetti Computing by 166.9% during the third quarter. SG Americas Securities LLC now owns 63,202 shares of the company’s stock worth $49,000 after purchasing an additional 39,526 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Rigetti Computing by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock valued at $49,000 after purchasing an additional 2,045 shares during the period. Point72 DIFC Ltd acquired a new stake in Rigetti Computing during the 2nd quarter valued at $88,000. Finally, Barclays PLC increased its stake in Rigetti Computing by 275.6% during the 3rd quarter. Barclays PLC now owns 185,959 shares of the company’s stock worth $145,000 after buying an additional 136,443 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rigetti Computing

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of the firm’s stock in a transaction dated 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 trade represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $1.52, for a total value of $1,954,893.28. Following the transaction, the insider now directly owns 19,582,218 shares of the company’s stock, valued at $29,764,971.36. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,955,125 shares of company stock valued at $5,489,354.

Wall Street Analyst Weigh In

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

Rigetti Computing Trading Down 12.5 %

Shares of NASDAQ RGTI opened at $9.83 on Tuesday. The stock has a market capitalization of $1.89 billion, a P/E ratio of -25.87 and a beta of 1.31. The stock’s 50 day moving average price is $7.79 and its two-hundred day moving average price is $3.37. 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 $0.66 and a 52-week high of $21.42.

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.