Vanguard Group Inc. Acquires 9,228,888 Shares of Rigetti Computing, Inc. $RGTI

Vanguard Group Inc. increased its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI) by 40.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,046,477 shares of the company’s stock after buying an additional 9,228,888 shares during the period. Vanguard Group Inc. owned 0.10% of Rigetti Computing worth $954,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH raised its holdings in Rigetti Computing by 1.7% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 21,178 shares of the company’s stock valued at $631,000 after acquiring an additional 357 shares in the last quarter. Prospera Financial Services Inc raised its stake in Rigetti Computing by 1.0% in the third quarter. Prospera Financial Services Inc now owns 41,789 shares of the company’s stock valued at $1,245,000 after purchasing an additional 419 shares in the last quarter. GAMMA Investing LLC lifted its position in Rigetti Computing by 25.6% during the third quarter. GAMMA Investing LLC now owns 2,878 shares of the company’s stock worth $86,000 after purchasing an additional 587 shares during the period. Fourth Dimension Wealth LLC grew its stake in Rigetti Computing by 50.8% during the third quarter. Fourth Dimension Wealth LLC now owns 1,900 shares of the company’s stock worth $57,000 after buying an additional 640 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its holdings in Rigetti Computing by 4.4% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 21,610 shares of the company’s stock valued at $644,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds own 35.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RGTI. TD Cowen cut shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rigetti Computing in a report on Monday, December 29th. B. Riley Financial raised Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Thursday, January 22nd. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Rigetti Computing in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group assumed coverage on shares of Rigetti Computing in a report on Tuesday, December 16th. They set a “hold” rating and a $30.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rigetti Computing presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Rigetti Computing Price Performance

RGTI opened at $15.92 on Friday. Rigetti Computing, Inc. has a fifty-two week low of $6.86 and a fifty-two week high of $58.15. The company’s 50 day moving average price is $21.58 and its two-hundred day moving average price is $25.76. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -12.25 and a beta of 1.69.

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.