Barclays PLC Buys 51,135 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

Barclays PLC grew its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI) by 27.5% in the fourth quarter, Holdings Channel reports. The firm owned 237,094 shares of the company’s stock after buying an additional 51,135 shares during the quarter. Barclays PLC’s holdings in Rigetti Computing were worth $3,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Rigetti Computing by 81.7% in the 4th quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company’s stock worth $179,249,000 after purchasing an additional 5,280,128 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Rigetti Computing by 7,367.2% in the 4th quarter. Invesco Ltd. now owns 4,580,317 shares of the company’s stock worth $69,896,000 after purchasing an additional 4,518,978 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Rigetti Computing by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 3,850,220 shares of the company’s stock worth $58,767,000 after purchasing an additional 228,391 shares in the last quarter. State Street Corp increased its holdings in shares of Rigetti Computing by 12.9% in the 3rd quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after purchasing an additional 309,831 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Rigetti Computing by 3,295.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company’s stock worth $32,314,000 after acquiring an additional 2,055,203 shares during the period. Institutional investors own 35.38% of the company’s stock.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 351,785 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the completion of the transaction, the chief technology officer now owns 1,094,738 shares in the company, valued at $8,495,166.88. This trade represents a 24.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.81% of the company’s stock.

Rigetti Computing Stock Performance

NASDAQ:RGTI opened at $9.22 on Tuesday. The stock has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $8.02. Rigetti Computing, Inc. has a 52-week low of $0.66 and a 52-week high of $21.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. The firm has a market capitalization of $2.64 billion, a PE ratio of -24.26 and a beta of 1.41.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $2.27 million during the quarter, compared to analyst estimates of $2.40 million. Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Analysts forecast that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RGTI shares. B. Riley lifted their price objective on Rigetti Computing from $8.50 to $15.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Alliance Global Partners reaffirmed a “buy” rating on shares of Rigetti Computing in a report on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Rigetti Computing in a report on Thursday, March 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rigetti Computing currently has a consensus rating of “Buy” and an average price target of $14.50.

Rigetti Computing Profile

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.