Bessemer Venture Partners X. L. Sells 713,886 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI) Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1.52, for a total value of $1,085,106.72. Following the completion of the sale, the insider now directly owns 20,868,332 shares of the company’s stock, valued at approximately $31,719,864.64. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Rigetti Computing Price Performance

RGTI opened at $1.55 on Friday. The business’s fifty day moving average is $1.00 and its 200-day moving average is $1.02. Rigetti Computing, Inc. has a 52-week low of $1.13 and a 52-week high of $1.89.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RGTI. SG Americas Securities LLC acquired a new position in Rigetti Computing in the 2nd quarter worth about $25,000. Cetera Advisors LLC acquired a new position in shares of Rigetti Computing in the first quarter valued at approximately $38,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in Rigetti Computing in the 2nd quarter valued at approximately $27,000. PEAK6 Investments LLC acquired a new stake in Rigetti Computing during the 1st quarter worth approximately $40,000. Finally, Caprock Group LLC acquired a new stake in Rigetti Computing during the 2nd quarter worth approximately $42,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Benchmark reissued a “buy” rating and set a $2.50 price target on shares of Rigetti Computing in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price objective on shares of Rigetti Computing in a report on Wednesday. Finally, B. Riley raised their target price on shares of Rigetti Computing from $3.00 to $3.50 and gave the stock a “buy” rating in a research note on Wednesday.

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.