229,528 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Acquired by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. bought a new position in Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 229,528 shares of the company’s stock, valued at approximately $3,503,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Rigetti Computing by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock worth $901,000 after buying an additional 144,742 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Rigetti Computing by 9.8% in the third quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after purchasing an additional 407,389 shares in the last quarter. State Street Corp increased its stake in shares of Rigetti Computing by 12.9% in the third quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after purchasing an additional 309,831 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Rigetti Computing by 23.8% in the third quarter. Jane Street Group LLC now owns 244,496 shares of the company’s stock worth $191,000 after purchasing an additional 47,013 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Rigetti Computing by 275.6% in the third quarter. Barclays PLC now owns 185,959 shares of the company’s stock worth $145,000 after purchasing an additional 136,443 shares in the last quarter. Institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael S. Clifton sold 125,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.03, for a total transaction of $628,750.00. Following the transaction, the director now owns 1,063,864 shares in the company, valued at approximately $5,351,235.92. This trade represents a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.81% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RGTI. Needham & Company LLC reaffirmed a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a research note on Wednesday, November 13th. B. Riley boosted their price objective on shares of Rigetti Computing from $8.50 to $15.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Craig Hallum started coverage on shares of Rigetti Computing in a report on Friday, December 20th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Benchmark boosted their price objective on shares of Rigetti Computing from $2.50 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 21st.

Rigetti Computing Trading Up 5.4 %

Rigetti Computing stock opened at $8.46 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. Rigetti Computing, Inc. has a 12-month low of $0.66 and a 12-month high of $21.42. The firm has a 50 day moving average of $12.43 and a 200 day moving average of $5.62. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -22.26 and a beta of 1.26.

Rigetti Computing 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.