Brighton Jones LLC Has $122,000 Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

Brighton Jones LLC increased its holdings in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 100.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,532 shares of the company’s stock after purchasing an additional 61,766 shares during the period. Brighton Jones LLC’s holdings in Rigetti Computing were worth $122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Orion Portfolio Solutions LLC acquired a new position in Rigetti Computing in the 3rd quarter worth $25,000. Gitterman Wealth Management LLC acquired a new stake in shares of Rigetti Computing in the 3rd quarter valued at about $27,000. American Assets Investment Management LLC raised its stake in shares of Rigetti Computing by 1,657.8% in the 3rd quarter. American Assets Investment Management LLC now owns 8,789,169 shares of the company’s stock valued at $11,690,000 after purchasing an additional 8,289,169 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Rigetti Computing by 9.0% in the third quarter. Penserra Capital Management LLC now owns 2,118,751 shares of the company’s stock valued at $2,817,000 after purchasing an additional 174,408 shares in the last quarter. Finally, Procyon Advisors LLC acquired a new position in shares of Rigetti Computing during the fourth quarter worth about $65,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RGTI has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Rigetti Computing in a research report on Friday, March 15th. Alliance Global Partners assumed coverage on shares of Rigetti Computing in a research report on Friday, March 1st. They issued a “buy” rating and a $3.50 price objective on the stock.

Insider Activity at Rigetti Computing

In other news, General Counsel Richard Danis sold 46,326 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $1.97, for a total transaction of $91,262.22. Following the completion of the sale, the general counsel now owns 1,052,141 shares in the company, valued at $2,072,717.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 75,599 shares of company stock valued at $142,830. 2.60% of the stock is owned by corporate insiders.

Rigetti Computing Trading Up 6.9 %

NASDAQ:RGTI opened at $1.40 on Friday. Rigetti Computing, Inc. has a 52-week low of $0.36 and a 52-week high of $3.43. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $1.54 and its 200 day simple moving average is $1.28.

Rigetti Computing (NASDAQ:RGTI) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.09) earnings per share for the quarter. Rigetti Computing had a negative net margin of 625.42% and a negative return on equity of 59.51%. The company had revenue of $3.38 million during the quarter. On average, analysts forecast that Rigetti Computing, Inc. will post -0.33 EPS for the current fiscal year.

About Rigetti Computing

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.