David Rivas Sells 18,759 Shares of Rigetti Computing (NASDAQ:RGTI) Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) CTO David Rivas sold 18,759 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $22.96, for a total transaction of $430,706.64. Following the completion of the transaction, the chief technology officer directly owned 713,155 shares of the company’s stock, valued at approximately $16,374,038.80. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, March 10th, David Rivas sold 36,719 shares of Rigetti Computing stock. The shares were sold at an average price of $17.52, for a total transaction of $643,316.88.

Rigetti Computing Trading Down 1.8%

Rigetti Computing stock opened at $24.62 on Thursday. The company has a market cap of $8.18 billion, a P/E ratio of -28.30 and a beta of 1.79. The company has a fifty day simple moving average of $17.37 and a 200 day simple moving average of $20.53. Rigetti Computing, Inc. has a 1-year low of $10.30 and a 1-year high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $4.40 million during the quarter, compared to analysts’ expectations of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The company’s revenue for the quarter was up 198.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) earnings per share. On average, equities research analysts forecast that Rigetti Computing, Inc. will post -0.19 EPS for the current year.

Key Rigetti Computing News

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

• Positive Sentiment: The biggest catalyst is a new U.S. government Letter of Intent that could provide Rigetti with up to $100 million in CHIPS Act funding, reinforcing the company’s role in domestic quantum computing and signaling strategic validation from Washington. The U.S. Government Just Invested in These 3 Quantum Computing Stocks. Should Retail Investors Follow Suit?
• Positive Sentiment: Investor enthusiasm is being reinforced by unusually high call option volume, suggesting traders are positioning for further upside in RGTI. Rigetti Computing Sees Unusually High Options Volume (NASDAQ:RGTI)
• Positive Sentiment: Commentary around a “commercial breakout” and improving enterprise adoption supports the view that Rigetti is moving beyond pure research toward revenue-generating quantum infrastructure. Quantum Computing’s Commercial Breakout Has Arrived (RGTI)
• Neutral Sentiment: Several articles noted that RGTI remains one of the most searched and most closely watched quantum stocks, underscoring elevated retail and institutional attention but not adding a direct fundamental catalyst. Investors Heavily Search Rigetti Computing, Inc. (RGTI): Here is What You Need to Know
• Neutral Sentiment: Industry-wide optimism is also helping sentiment, with quantum stocks rising on broader excitement around the sector and new ETF/IPO activity, which can lift RGTI alongside peers. Quantum Computing: The Next AI Boom?
• Negative Sentiment: Recent insider sales by Rigetti’s CFO and CTO may pressure sentiment, even though the trades were disclosed as tax-related transactions tied to equity vesting. Jeffrey Bertelsen Sells 3,682 Shares of Rigetti Computing (NASDAQ:RGTI) Stock
• Negative Sentiment: One analysis warned that RGTI’s rich valuation leaves little room for execution missteps, implying downside risk if commercialization or revenue growth slows. How Low Can RGTI Stock Go?

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Northland Securities assumed coverage on shares of Rigetti Computing in a research note on Monday, April 20th. They issued a “market perform” rating and a $20.00 price target for the company. TD Cowen cut shares of Rigetti Computing from a “buy” rating to a “hold” rating in a research note on Thursday, February 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a research note on Thursday, March 5th. Mizuho cut their price target on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price target on shares of Rigetti Computing in a research note on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rigetti Computing currently has an average rating of “Moderate Buy” and a consensus price target of $29.18.

Institutional Trading of Rigetti Computing

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Rigetti Computing by 12.2% during the 4th quarter. Vanguard Group Inc. now owns 35,970,648 shares of the company’s stock worth $796,750,000 after buying an additional 3,924,171 shares during the last quarter. State Street Corp lifted its stake in shares of Rigetti Computing by 12.0% during the 2nd quarter. State Street Corp now owns 8,853,006 shares of the company’s stock worth $104,997,000 after buying an additional 946,850 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rigetti Computing by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,879,325 shares of the company’s stock worth $174,930,000 after buying an additional 196,891 shares during the last quarter. UBS Group AG lifted its stake in shares of Rigetti Computing by 90.9% during the 3rd quarter. UBS Group AG now owns 3,081,174 shares of the company’s stock worth $91,788,000 after buying an additional 1,467,483 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Rigetti Computing by 16.3% during the 3rd quarter. Northern Trust Corp now owns 2,846,095 shares of the company’s stock worth $84,785,000 after buying an additional 397,905 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

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.