Rigetti Computing (NASDAQ:RGTI) Director Ray Johnson Sells 122,188 Shares

Rigetti Computing, Inc. (NASDAQ:RGTI) Director Ray Johnson sold 122,188 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $21.30, for a total value of $2,602,604.40. Following the completion of the sale, the director owned 171,273 shares of the company’s stock, valued at $3,648,114.90. The trade was a 41.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rigetti Computing Stock Down 1.3%

RGTI opened at $19.44 on Thursday. The stock has a fifty day moving average of $19.08 and a 200-day moving average of $20.25. The firm has a market capitalization of $6.46 billion, a P/E ratio of -22.34 and a beta of 1.88. Rigetti Computing, Inc. has a 12-month low of $10.30 and a 12-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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $4.40 million during the quarter, compared to analyst estimates of $4.09 million. Rigetti Computing had a negative return on equity of 10.40% and a negative net margin of 2,789.71%.The company’s revenue for the quarter was up 198.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, analysts expect that Rigetti Computing, Inc. will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and issued a $40.00 target price on shares of Rigetti Computing in a report on Thursday, March 5th. Needham & Company LLC restated a “buy” rating and issued a $31.00 target price on shares of Rigetti Computing in a report on Tuesday, May 12th. Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Northland Securities assumed coverage on Rigetti Computing in a report on Monday, April 20th. They issued a “market perform” rating and a $20.00 target price for the company. Finally, Benchmark reduced their target price on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating for the company in a report on Friday, March 20th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Rigetti Computing presently has an average rating of “Moderate Buy” and an average target price of $29.18.

Hedge Funds Weigh In On Rigetti Computing

Several hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased its position in Rigetti Computing by 6.7% during the first quarter. NewEdge Advisors LLC now owns 65,694 shares of the company’s stock worth $922,000 after buying an additional 4,149 shares during the last quarter. Janus Henderson Group PLC increased its position in Rigetti Computing by 7.3% during the first quarter. Janus Henderson Group PLC now owns 199,987 shares of the company’s stock worth $2,809,000 after buying an additional 13,666 shares during the last quarter. Encore Global Management LP acquired a new position in Rigetti Computing during the first quarter worth $1,685,000. Amundi increased its position in Rigetti Computing by 124.8% during the first quarter. Amundi now owns 60,012 shares of the company’s stock worth $843,000 after buying an additional 33,317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Rigetti Computing by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,651 shares of the company’s stock worth $65,000 after buying an additional 1,121 shares during the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.

More Rigetti Computing News

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

• Positive Sentiment: Bernstein analyst Mark Newman reiterated a bullish view on Rigetti, saying the market may be overlooking the company in the quantum race and highlighting it as one of his top quantum picks. Rigetti Computing Is One of This Analyst’s Top Quantum Picks. The Case for Buying.
• Positive Sentiment: Rigetti was also framed as a potential beneficiary of renewed interest in quantum computing, with coverage pointing to customer adoption, government support, and the company’s progress toward quantum advantage. Rigetti Advances Toward Quantum Advantage With Cepheus Push
• Positive Sentiment: Schaeffers highlighted the stock as a possible “buy the dip” idea, reinforcing the view that recent weakness may be creating a trading opportunity. Buy the Dip on This Quantum Computing Stock
• Neutral Sentiment: Several articles revisited Rigetti’s post-earnings setup, noting it has gained modestly since its last report and that investors are looking to future earnings estimates for the next catalyst. Why Is Rigetti Computing (RGTI) Up 3.3% Since Last Earnings Report?
• Negative Sentiment: A director disclosed a sale of 122,188 shares under a pre-arranged 10b5-1 plan, which can still pressure sentiment even when the transaction is routine. SEC Form 4 filing
• Negative Sentiment: Broader market coverage pointed to risk-off trading and tech-sector weakness, which can weigh on speculative names like Rigetti even when company-specific news is constructive. Stock Market Today, June 9: Risk-Off Sentiment Pressures Nasdaq

Rigetti Computing Company Profile

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.