Allworth Financial LP Has $161,000 Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

Allworth Financial LP lifted its position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 14.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,604 shares of the company’s stock after purchasing an additional 1,504 shares during the quarter. Allworth Financial LP’s holdings in Rigetti Computing were worth $161,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RGTI. Geode Capital Management LLC increased its position in shares of Rigetti Computing by 20.6% during the third quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after buying an additional 617,506 shares during the period. Penserra Capital Management LLC increased its position in shares of Rigetti Computing by 9.8% during the third quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after buying an additional 407,389 shares during the period. State Street Corp increased its position in shares of Rigetti Computing by 12.9% during the third quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after buying an additional 309,831 shares during the period. UNICOM Systems Inc. acquired a new stake in shares of Rigetti Computing during the fourth quarter worth $4,349,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in shares of Rigetti Computing during the fourth quarter worth $2,670,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RGTI shares. B. Riley increased their price objective on shares of Rigetti Computing from $8.50 to $15.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Craig Hallum assumed coverage on shares of Rigetti Computing in a report on Friday, December 20th. They issued a “buy” rating and a $12.00 price target for the company. Benchmark raised their price target on shares of Rigetti Computing from $2.50 to $14.00 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rigetti Computing presently has a consensus rating of “Buy” and a consensus price target of $9.30.

Insider Activity

In other news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $4.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director now directly owns 1,188,864 shares in the company, valued at $4,755,456. This trade represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 375,000 shares of company stock worth $1,503,750 over the last three months. 2.81% of the stock is currently owned by insiders.

Rigetti Computing Stock Down 6.3 %

Shares of NASDAQ RGTI opened at $10.75 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of -28.29 and a beta of 1.26. The company has a 50-day moving average price of $12.47 and a 200-day moving average price of $5.34. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.84 and a quick ratio of 4.84.

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.