Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC raised its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,553,633 shares of the company’s stock after purchasing an additional 407,389 shares during the quarter. Penserra Capital Management LLC’s holdings in Rigetti Computing were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Rigetti Computing by 17.0% in the 1st quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock valued at $7,933,000 after acquiring an additional 753,110 shares during the period. PEAK6 Investments LLC acquired a new stake in Rigetti Computing in the first quarter worth about $40,000. Cetera Advisors LLC bought a new position in Rigetti Computing in the 1st quarter valued at about $38,000. SG Americas Securities LLC acquired a new position in Rigetti Computing during the 2nd quarter valued at about $25,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Rigetti Computing during the 2nd quarter worth about $27,000. Institutional investors own 35.38% of the company’s stock.

Analyst Upgrades and Downgrades

RGTI has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $2.50 price target on shares of Rigetti Computing in a research report on Thursday, November 14th. Finally, B. Riley boosted their price objective on Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Monday.

Rigetti Computing Trading Up 58.0 %

Shares of NASDAQ:RGTI opened at $2.75 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. The stock has a market capitalization of $528.83 million, a price-to-earnings ratio of -7.24 and a beta of 2.13. Rigetti Computing, Inc. has a 1-year low of $1.13 and a 1-year high of $3.37. The company has a 50 day moving average price of $1.13 and a 200 day moving average price of $1.03.

Insider Transactions at Rigetti Computing

In related news, Director Helene Gail Sandford sold 43,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total value of $35,424.00. Following the completion of the sale, the director now owns 257,752 shares in the company, valued at approximately $211,356.64. This represents a 14.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $3.00, for a total transaction of $375,000.00. Following the transaction, the director now owns 1,313,864 shares in the company, valued at approximately $3,941,592. The trade was a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,748,325 shares of company stock valued at $4,396,028 over the last three months.

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.