15,000 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Purchased by Highland Capital Management LLC

Highland Capital Management LLC purchased a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,000 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arete Wealth Advisors LLC purchased a new stake in Rigetti Computing in the third quarter worth $45,000. SG Americas Securities LLC boosted its stake in shares of Rigetti Computing by 166.9% during the 3rd quarter. SG Americas Securities LLC now owns 63,202 shares of the company’s stock valued at $49,000 after purchasing an additional 39,526 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Rigetti Computing by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock valued at $49,000 after purchasing an additional 2,045 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Rigetti Computing during the fourth quarter valued at about $76,000. Finally, Barclays PLC increased its position in shares of Rigetti Computing by 275.6% during the third quarter. Barclays PLC now owns 185,959 shares of the company’s stock valued at $145,000 after buying an additional 136,443 shares during the period. Institutional investors own 35.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of Rigetti Computing stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $1.52, for a total value of $1,954,893.28. Following the completion of the sale, the insider now directly owns 19,582,218 shares in the company, valued at approximately $29,764,971.36. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael S. Clifton sold 125,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $3.00, for a total transaction of $375,000.00. Following the transaction, the director now owns 1,313,864 shares in the company, valued at $3,941,592. This represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,955,125 shares of company stock worth $5,489,354 in the last three months. Insiders own 2.81% of the company’s stock.

Rigetti Computing Stock Up 7.1 %

Shares of Rigetti Computing stock opened at $13.17 on Friday. The company has a 50-day simple moving average of $9.83 and a two-hundred day simple moving average of $4.07. 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 stock has a market capitalization of $2.53 billion, a PE ratio of -34.66 and a beta of 1.31.

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.