Rigetti Computing, Inc. (NASDAQ:RGTI) Major Shareholder Sells $945,603.75 in Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $1.63, for a total value of $945,603.75. Following the completion of the sale, the insider now directly owns 19,002,093 shares in the company, valued at approximately $30,973,411.59. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Rigetti Computing Stock Performance

NASDAQ:RGTI traded down $0.11 during mid-day trading on Monday, reaching $1.30. The stock had a trading volume of 12,736,709 shares, compared to its average volume of 17,717,129. Rigetti Computing, Inc. has a one year low of $1.13 and a one year high of $1.89. The firm has a 50 day moving average price of $1.04 and a two-hundred day moving average price of $1.02.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RGTI shares. Benchmark restated a “buy” rating and issued a $2.50 price objective on shares of Rigetti Computing in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a report on Wednesday, November 13th. Finally, B. Riley lifted their price objective on shares of Rigetti Computing from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Hedge Funds Weigh In On Rigetti Computing

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Rigetti Computing by 17.0% in the first quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock worth $7,933,000 after buying an additional 753,110 shares during the period. PEAK6 Investments LLC bought a new stake in Rigetti Computing in the 1st quarter worth $40,000. Cetera Advisors LLC bought a new stake in Rigetti Computing in the 1st quarter worth $38,000. Bank of New York Mellon Corp increased its position in shares of Rigetti Computing by 3,788.5% in the second quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock valued at $439,000 after acquiring an additional 400,143 shares during the period. Finally, Caprock Group LLC bought a new position in shares of Rigetti Computing during the second quarter valued at about $42,000.

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.