Hsbc Holdings PLC Buys Shares of 74,695 Rigetti Computing, Inc. $RGTI

Hsbc Holdings PLC bought a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) during the 1st quarter, HoldingsChannel.com reports. The firm bought 74,695 shares of the company’s stock, valued at approximately $1,019,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Rigetti Computing by 12.2% during the fourth quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock worth $796,750,000 after purchasing an additional 3,924,171 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Rigetti Computing by 1,632.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,571,289 shares of the company’s stock worth $56,954,000 after buying an additional 2,422,873 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Rigetti Computing in the second quarter valued at about $21,887,000. Norges Bank acquired a new stake in shares of Rigetti Computing in the fourth quarter valued at about $38,889,000. Finally, Defiance ETFs LLC purchased a new position in shares of Rigetti Computing in the fourth quarter worth about $34,267,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ray O. Johnson sold 84,944 shares of Rigetti Computing stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the sale, the director owned 95,537 shares of the company’s stock, valued at approximately $1,963,285.35. The trade was a 47.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of Rigetti Computing stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $22.95, for a total transaction of $84,501.90. Following the sale, the chief financial officer directly owned 171,927 shares in the company, valued at approximately $3,945,724.65. The trade was a 2.10% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 728,901 shares of company stock valued at $17,546,343 in the last 90 days. Company insiders own 1.60% of the company’s stock.

Rigetti Computing Stock Down 7.2%

NASDAQ RGTI opened at $14.52 on Wednesday. The business’s fifty day simple moving average is $19.60 and its 200-day simple moving average is $18.53. The firm has a market cap of $4.83 billion, a PE ratio of -16.69 and a beta of 1.95. Rigetti Computing, Inc. has a 52 week low of $12.53 and a 52 week high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.09 million. During the same period last year, the business earned ($0.05) earnings per share. Rigetti Computing’s revenue was up 198.9% compared to the same quarter last year. Research analysts expect that Rigetti Computing, Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Rigetti Computing in a research note on Tuesday, May 12th. Northland Securities began coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 target price on the stock. Weiss Ratings upgraded Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Benchmark assumed coverage on Rigetti Computing in a research report on Monday. They issued a “buy” rating and a $25.00 price target for the company. Finally, Mizuho cut their price target on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rigetti Computing presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

More Rigetti Computing News

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

• Positive Sentiment: Rigetti announced an expanded collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center to build TangleLab, a hybrid quantum-classical supercomputing testbed. Rigetti will provide a 9-qubit Novera system, with construction expected to begin in September and operations targeted for 2027. The project is backed by a $5 million National Science Foundation grant. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Benchmark initiated coverage of RGTI with a Buy rating and a $25 price target, adding to the bullish analyst view of the quantum-computing sector. Benchmark also argued that multiple hardware platforms could succeed as enterprise adoption expands. Benchmark quantum sector outlook
• Positive Sentiment: Rigetti’s commercial momentum includes sharply higher first-quarter revenue and potential demand for its Novera systems, Cepheus processors and cloud services. Recent research suggests AI and cloud adoption could accelerate the commercialization of quantum computing. Quantum stocks after the AI infrastructure pullback
• Neutral Sentiment: Investor attention is elevated ahead of Rigetti’s upcoming second-quarter results. Investors will focus on Novera revenue, Cepheus-1 adoption, progress toward higher-fidelity systems and whether the company can meet its technology roadmap. Rigetti upcoming Q2 results
• Negative Sentiment: The stock is being affected by a sector-wide retreat after concerns about heavy AI-infrastructure spending, while investors also reassess quantum valuations after sharp recent rallies in comparable companies such as D-Wave Quantum.
• Negative Sentiment: Rigetti remains unprofitable, and its very high valuation relative to current revenue leaves the shares sensitive to delays in commercialization or disappointing quarterly guidance. Reported insider activity also shows selling rather than open-market purchases over the past six months.

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.