Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System increased its stake in Rigetti Computing, Inc. (NASDAQ:RGTI) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,551 shares of the company’s stock after purchasing an additional 1,301 shares during the quarter. California State Teachers Retirement System’s holdings in Rigetti Computing were worth $176,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RGTI. Allworth Financial LP raised its position in Rigetti Computing by 14.9% in the fourth quarter. Allworth Financial LP now owns 11,604 shares of the company’s stock worth $161,000 after acquiring an additional 1,504 shares in the last quarter. Signaturefd LLC acquired a new stake in Rigetti Computing during the 4th quarter worth about $25,000. Legal & General Group Plc raised its holdings in Rigetti Computing by 14.9% during the 4th quarter. Legal & General Group Plc now owns 14,051 shares of the company’s stock worth $214,000 after buying an additional 1,817 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in Rigetti Computing during the 4th quarter worth about $28,000. Finally, Tucker Asset Management LLC acquired a new stake in Rigetti Computing during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $12.10 on Friday. The business has a fifty day simple moving average of $10.57 and a 200 day simple moving average of $10.24. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -31.84 and a beta of 1.50. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $21.42.

Analyst Upgrades and Downgrades

RGTI has been the topic of a number of research reports. B. Riley upped their target price on Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC decreased their target price on Rigetti Computing from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 14th. Alliance Global Partners reaffirmed a “buy” rating on shares of Rigetti Computing in a research report on Thursday, March 6th. Finally, Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of Rigetti Computing in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rigetti Computing presently has a consensus rating of “Buy” and an average price target of $14.00.

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.