Arkadios Wealth Advisors Invests $1.62 Million in Rigetti Computing, Inc. (NASDAQ:RGTI)

Arkadios Wealth Advisors purchased a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 106,415 shares of the company’s stock, valued at approximately $1,624,000. Arkadios Wealth Advisors owned 0.06% of Rigetti Computing at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Rigetti Computing by 3.4% in 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 during the period. Sovereign Financial Group Inc. acquired a new stake in Rigetti Computing in the 4th quarter valued at $215,000. Greenhouse Wealth Management LLC acquired a new stake in Rigetti Computing in the 4th quarter valued at $223,000. Silverleafe Capital Partners LLC acquired a new stake in Rigetti Computing in the 4th quarter valued at $554,000. Finally, SG Americas Securities LLC grew its position in Rigetti Computing by 166.9% in 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 during the period. Institutional investors and hedge funds own 35.38% of the company’s stock.

Insider Transactions at Rigetti Computing

In other news, major shareholder Bessemer Venture Partners X. L. sold 580,125 shares of Rigetti Computing stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $1.63, for a total transaction of $945,603.75. Following the sale, the insider now directly owns 19,002,093 shares in the company, valued at $30,973,411.59. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.03, for a total value of $628,750.00. Following the completion of the sale, the director now owns 1,063,864 shares in the company, valued at $5,351,235.92. This represents a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,955,125 shares of company stock worth $5,489,354 in the last ninety days.

Analysts Set New Price Targets

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

Rigetti Computing Trading Down 12.5 %

NASDAQ RGTI opened at $9.83 on Friday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -25.87 and a beta of 1.31. Rigetti Computing, Inc. has a one year low of $0.66 and a one 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. The business’s fifty day moving average is $7.79 and its 200-day moving average is $3.33.

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.