DLK Investment Management LLC Sells 1,999 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

DLK Investment Management LLC decreased its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 3.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 56,251 shares of the company’s stock after selling 1,999 shares during the period. DLK Investment Management LLC’s holdings in Rigetti Computing were worth $858,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. LVW Advisors LLC acquired a new position in shares of Rigetti Computing during the 4th quarter worth about $305,000. Arkadios Wealth Advisors acquired a new position in Rigetti Computing during the fourth quarter valued at approximately $1,624,000. Greenhouse Wealth Management LLC bought a new position in Rigetti Computing in the fourth quarter valued at approximately $223,000. Sovereign Financial Group Inc. acquired a new position in shares of Rigetti Computing during the 4th quarter worth approximately $215,000. Finally, Silverleafe Capital Partners LLC bought a new stake in shares of Rigetti Computing during the 4th quarter worth approximately $554,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Stock Performance

NASDAQ RGTI opened at $9.83 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. Rigetti Computing, Inc. has a 52-week low of $0.66 and a 52-week high of $21.42. The firm has a 50-day moving average of $7.79 and a 200-day moving average of $3.35.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $2.00 target price on shares of Rigetti Computing in a research note on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $2.50 price objective on shares of Rigetti Computing in a research note on Thursday, November 14th. Craig Hallum assumed coverage on shares of Rigetti Computing in a research note on Friday, December 20th. They issued a “buy” rating and a $12.00 target price for the company. Finally, B. Riley boosted their price target on Rigetti Computing from $4.00 to $8.50 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $5.70.

Insiders Place Their Bets

In other news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction on Monday, November 25th. The stock was sold at an average price of $3.00, for a total transaction of $375,000.00. Following the completion of the sale, the director now owns 1,313,864 shares of the company’s stock, valued at approximately $3,941,592. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $1.52, for a total transaction of $1,085,106.72. Following the completion of the transaction, the insider now owns 20,868,332 shares in the company, valued at $31,719,864.64. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,955,125 shares of company stock worth $5,489,354 over the last three months.

Rigetti Computing Company 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.