Rigetti Computing, Inc. (NASDAQ:RGTI) CEO Chad Rigetti Sells 49,824 Shares

Rigetti Computing, Inc. (NASDAQ:RGTIGet Rating) CEO Chad Rigetti sold 49,824 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of 4.56, for a total value of 227,197.44. Following the sale, the chief executive officer now directly owns 10,162,686 shares in the company, valued at approximately 46,341,848.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Chad Rigetti also recently made the following trade(s):

  • On Tuesday, June 14th, Chad Rigetti sold 132,224 shares of Rigetti Computing stock. The shares were sold at an average price of 4.43, for a total value of 585,752.32.

Shares of NASDAQ RGTI opened at 4.70 on Friday. The firm has a 50-day moving average of 6.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 18.60 and a quick ratio of 18.60. Rigetti Computing, Inc. has a fifty-two week low of 4.23 and a fifty-two week high of 12.75.

Rigetti Computing (NASDAQ:RGTIGet Rating) last announced its quarterly earnings data on Monday, May 16th. The company reported -0.41 earnings per share for the quarter. The firm had revenue of 2.10 million during the quarter.

Several research firms have issued reports on RGTI. Benchmark dropped their price target on Rigetti Computing from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, June 10th. Cowen began coverage on Rigetti Computing in a research note on Friday, May 27th. They issued an “outperform” rating on the stock. Needham & Company LLC began coverage on Rigetti Computing in a research note on Tuesday, June 7th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Cowen began coverage on Rigetti Computing in a research note on Friday, May 27th. They issued an “outperform” rating on the stock.

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in Rigetti Computing during the first quarter worth about $179,000. Alyeska Investment Group L.P. bought a new position in Rigetti Computing during the first quarter worth about $2,728,000. Deer Management Co. LLC bought a new position in Rigetti Computing during the first quarter worth about $135,968,000. Empyrean Capital Partners LP bought a new position in Rigetti Computing during the first quarter worth about $394,000. Finally, Aristeia Capital LLC bought a new position in Rigetti Computing during the first quarter worth about $315,000. Institutional investors and hedge funds own 64.75% of the company’s stock.

About Rigetti Computing (Get Rating)

Rigetti Computing, Inc operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

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