Rigetti Computing (NASDAQ:RGTI) CFO Jeffrey Bertelsen Sells 3,682 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) CFO Jeffrey Bertelsen sold 3,682 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.95, for a total transaction of $84,501.90. Following the completion of the sale, the chief financial officer owned 171,927 shares in the company, valued at approximately $3,945,724.65. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rigetti Computing Stock Down 5.1%

NASDAQ RGTI traded down $1.35 during trading on Tuesday, hitting $25.07. The stock had a trading volume of 88,408,629 shares, compared to its average volume of 33,424,715. The company has a market capitalization of $8.33 billion, a PE ratio of -28.82 and a beta of 1.79. The firm has a 50 day moving average price of $17.03 and a 200 day moving average price of $20.69. Rigetti Computing, Inc. has a twelve month low of $10.30 and a twelve month high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last released its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company had revenue of $4.40 million during the quarter, compared to the consensus estimate of $4.09 million. During the same period in the previous year, the company posted ($0.05) EPS. Rigetti Computing’s revenue was up 198.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Rigetti Computing, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

RGTI has been the subject of several recent analyst reports. TD Cowen cut Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Rigetti Computing in a report on Thursday, March 5th. Mizuho decreased their target price on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Benchmark lowered their price target on shares of Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Rigetti Computing in a research note on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.18.

Trending Headlines about Rigetti Computing

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rigetti is benefiting from news that the federal government plans to provide hundreds of millions of dollars to support domestic quantum foundry and technology development, reinforcing the company’s strategic role in U.S. quantum computing efforts. Quantum Stocks Just Got a Lifeline—Who Benefits Most? (RGTI)
• Positive Sentiment: The stock saw unusually heavy call-option buying, suggesting traders are positioning for more upside and adding to the recent momentum in shares. Rigetti Computing Sees Unusually High Options Volume (NASDAQ:RGTI)
• Positive Sentiment: Rigetti has also been highlighted as one of last week’s biggest movers, with the stock posting a sharp weekly gain alongside other speculative names, which can attract momentum-focused investors. BB, SIDU, RGTI Stocks Lead Last Week’s Wildest Upswings: Here’s What Happened
• Neutral Sentiment: Broader media attention is also increasing, with articles comparing Rigetti to peers and noting that investors are heavily searching for the stock. This reflects heightened interest, though it does not by itself change fundamentals. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Neutral Sentiment: Competitive commentary remains mixed: a Zacks comparison said QBTS currently has stronger near-term traction, while Rigetti is still positioned around longer-term gate-model quantum breakthroughs. RGTI vs QBTS: Which Quantum Computing Stock Holds More Promise?
• Neutral Sentiment: Additional headlines about Quantinuum’s IPO and a revived quantum IPO market have lifted sentiment for the broader sector, indirectly supporting Rigetti’s valuation narrative. Honeywell-Backed Quantinuum Seeks to Raise $1.05 Billion in IPO

Institutional Trading of Rigetti Computing

A number of large investors have recently made changes to their positions in RGTI. Vanguard Group Inc. boosted its stake in shares of Rigetti Computing by 40.4% during the third quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company’s stock valued at $954,665,000 after acquiring an additional 9,228,888 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Rigetti Computing by 1,632.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,571,289 shares of the company’s stock worth $56,954,000 after purchasing an additional 2,422,873 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Rigetti Computing in the 2nd quarter worth about $21,887,000. Norges Bank purchased a new position in shares of Rigetti Computing in the 4th quarter worth about $38,889,000. Finally, Clear Street Group Inc. purchased a new position in shares of Rigetti Computing in the 3rd quarter worth about $47,752,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

About Rigetti Computing

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.