Eurizon Capital SGR S.p.A. Takes Position in Rigetti Computing, Inc. $RGTI

Eurizon Capital SGR S.p.A. bought a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 222,893 shares of the company’s stock, valued at approximately $4,937,000.

A number of other hedge funds also recently modified their holdings of the business. Rothschild Investment LLC lifted its holdings in shares of Rigetti Computing by 26.1% in 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 in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of 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. Kestra Private Wealth Services LLC lifted its holdings in shares of Rigetti Computing by 1.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 37,534 shares of the company’s stock valued at $831,000 after purchasing an additional 535 shares in the last quarter. MAI Capital Management raised its holdings in shares of 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 acquiring an additional 566 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Rigetti Computing by 10.2% during the fourth quarter. Global Retirement Partners LLC now owns 6,656 shares of the company’s stock worth $147,000 after acquiring an additional 615 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Insider Activity

In other Rigetti Computing news, CTO David Rivas sold 499,328 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20. Following the transaction, the chief technology officer directly owned 325,945 shares in the company, valued at $8,279,003. This trade represents a 60.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey A. Bertelsen sold 4,270 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $17.52, for a total value of $74,810.40. Following the transaction, the chief financial officer owned 175,609 shares in the company, valued at approximately $3,076,669.68. This trade represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 562,758 shares of company stock worth $13,916,267. Corporate insiders own 1.60% of the company’s stock.

Rigetti Computing Price Performance

NASDAQ RGTI opened at $25.63 on Tuesday. Rigetti Computing, Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $58.15. The stock’s 50-day moving average is $17.99 and its two-hundred day moving average is $20.39. The firm has a market cap of $8.52 billion, a P/E ratio of -29.46 and a beta of 1.88.

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

Analysts Set New Price Targets

RGTI has been the subject of several recent research reports. Northland Securities initiated coverage on Rigetti Computing in a report on Monday, April 20th. They set a “market perform” rating and a $20.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price objective on shares of Rigetti Computing in a report on Thursday, March 5th. Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. TD Cowen lowered Rigetti Computing from a “buy” rating to a “hold” rating in a report on Thursday, February 12th. Finally, Mizuho cut their price objective on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.18.

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.