David Rivas Sells 499,328 Shares of Rigetti Computing (NASDAQ:RGTI) Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) CTO David Rivas sold 499,328 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.40, for a total value of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares in the company, valued at $8,279,003. This represents a 60.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

David Rivas also recently made the following trade(s):

• On Friday, May 22nd, David Rivas sold 18,759 shares of Rigetti Computing stock. The stock was sold at an average price of $22.96, for a total transaction of $430,706.64.
• On Tuesday, March 10th, David Rivas sold 36,719 shares of Rigetti Computing stock. The stock was sold at an average price of $17.52, for a total value of $643,316.88.

Rigetti Computing Stock Performance

RGTI stock opened at $26.88 on Wednesday. The stock has a 50-day simple moving average of $17.99 and a 200-day simple moving average of $20.39. The firm has a market cap of $8.93 billion, a P/E ratio of -30.90 and a beta of 1.88. Rigetti Computing, Inc. has a 1 year low of $10.30 and a 1 year high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.09 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was up 198.9% on a year-over-year basis. On average, equities research analysts predict that Rigetti Computing, Inc. will post -0.21 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC increased its position in shares of Rigetti Computing by 26.1% during the third quarter. Rothschild Investment LLC now owns 1,665 shares of the company’s stock valued at $50,000 after purchasing an additional 345 shares during the period. Prospera Financial Services Inc lifted its position in Rigetti Computing by 1.0% in the third quarter. Prospera Financial Services Inc now owns 41,789 shares of the company’s stock worth $1,245,000 after purchasing an additional 419 shares during the period. Kestra Private Wealth Services LLC boosted its stake in Rigetti Computing by 1.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company’s stock worth $831,000 after buying an additional 535 shares in the last quarter. MAI Capital Management boosted its stake in Rigetti Computing by 17.7% during the third quarter. MAI Capital Management now owns 3,763 shares of the company’s stock worth $112,000 after buying an additional 566 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Rigetti Computing by 10.2% in the 4th quarter. Global Retirement Partners LLC now owns 6,656 shares of the company’s stock valued at $147,000 after buying an additional 615 shares during the period. Institutional investors own 35.38% of the company’s stock.

Wall Street Analysts Forecast Growth

RGTI has been the topic of several recent analyst reports. Benchmark dropped their price target on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Mizuho lowered their price objective 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. TD Cowen lowered shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Wall Street Zen upgraded shares of Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research note on Thursday, March 5th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.18.

Rigetti Computing News Roundup

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

• Positive Sentiment: Rigetti is set to receive up to $100 million in potential U.S. Commerce Department backing for quantum R&D, which could help fund efforts to solve scaling challenges and accelerate development. Article Title
• Positive Sentiment: The company also benefited from reports highlighting its CHIPS Act funding prospects, a multi-year U.S. Air Force Research Laboratory contract, a newly launched 108-qubit system on major cloud platforms, and a new quantum computing contract in India, all of which support the case for growing commercial traction. Article Title
• Neutral Sentiment: Wall Street sentiment remains broadly constructive, with analyst coverage still showing a “Moderate Buy” profile and price targets clustered above current levels, though some commentary notes that bullish recommendations can be overly optimistic. Article Title
• Negative Sentiment: Offsetting the optimism, CTO David Rivas disclosed a large insider sale of nearly 500,000 shares, which can raise concerns about near-term confidence even though insider selling does not necessarily signal fundamental weakness. Article Title

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.