Harel Insurance Investments & Financial Services Ltd. Invests $76,000 in Rigetti Computing, Inc. (NASDAQ:RGTI)

Harel Insurance Investments & Financial Services Ltd. acquired a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 5,000 shares of the company’s stock, valued at approximately $76,000.

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

Analyst Ratings Changes

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

Insider Activity

In other news, Director Michael S. Clifton sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 approximately $3,941,592. This represents a 8.69 % 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 this link. Also, major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $1.63, for a total value of $945,603.75. Following the transaction, the insider now owns 19,002,093 shares in the company, valued at approximately $30,973,411.59. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,955,125 shares of company stock valued at $5,489,354 over the last ninety days. 2.81% of the stock is currently owned by company insiders.

Rigetti Computing Stock Down 2.0 %

RGTI opened at $13.20 on Friday. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $8.93 and its 200 day simple moving average is $3.75. Rigetti Computing, Inc. has a 1-year low of $0.66 and a 1-year high of $21.42. The stock has a market cap of $2.54 billion, a PE ratio of -34.74 and a beta of 1.31.

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.