Rigetti Computing, Inc. $RGTI Holdings Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 575.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,113 shares of the company’s stock after acquiring an additional 30,766 shares during the period. Nisa Investment Advisors LLC’s holdings in Rigetti Computing were worth $1,076,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Trust Co. of Toledo NA OH raised its holdings in shares of Rigetti Computing by 1.7% during the third quarter. Trust Co. of Toledo NA OH now owns 21,178 shares of the company’s stock worth $631,000 after acquiring an additional 357 shares in the last quarter. GAMMA Investing LLC grew its stake in Rigetti Computing by 25.6% in the third quarter. GAMMA Investing LLC now owns 2,878 shares of the company’s stock valued at $86,000 after purchasing an additional 587 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in Rigetti Computing by 4.4% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 21,610 shares of the company’s stock worth $644,000 after purchasing an additional 920 shares during the last quarter. Eagle Strategies LLC raised its stake in shares of Rigetti Computing by 1.1% during the 3rd quarter. Eagle Strategies LLC now owns 86,426 shares of the company’s stock worth $2,575,000 after purchasing an additional 959 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Rigetti Computing by 20.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,000 shares of the company’s stock worth $71,000 after purchasing an additional 1,000 shares in the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.

Rigetti Computing Stock Up 5.1%

Shares of Rigetti Computing stock opened at $25.72 on Thursday. Rigetti Computing, Inc. has a 12-month low of $6.86 and a 12-month high of $58.15. The stock has a 50 day moving average price of $25.68 and a two-hundred day moving average price of $24.80. The stock has a market capitalization of $8.49 billion, a P/E ratio of -19.78 and a beta of 1.70.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company had revenue of $1.95 million for the quarter, compared to analyst estimates of $2.17 million. The business’s quarterly revenue was down 18.1% on a year-over-year basis. Sell-side analysts anticipate that Rigetti Computing, Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

RGTI has been the subject of several recent research reports. Alliance Global Partners reissued a “buy” rating on shares of Rigetti Computing in a research note on Tuesday, November 11th. B. Riley reduced their target price on shares of Rigetti Computing from $42.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Benchmark decreased their target price on shares of Rigetti Computing from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Mizuho initiated coverage on shares of Rigetti Computing in a report on Thursday, December 11th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Wall Street Zen raised shares of Rigetti Computing from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.22.

Insider Buying and Selling

In other Rigetti Computing news, Director Helene Gail Sandford sold 62,000 shares of the business’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $44.89, for a total transaction of $2,783,180.00. Following the completion of the transaction, the director owned 120,371 shares of the company’s stock, valued at $5,403,454.19. The trade was a 34.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

Rigetti Computing Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.