Rigetti Computing, Inc. (NASDAQ:RGTI) Shares Sold by American Assets Investment Management LLC

American Assets Investment Management LLC reduced its stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,080,579 shares of the company’s stock after selling 358,590 shares during the quarter. American Assets Investment Management LLC’s holdings in Rigetti Computing were worth $6,328,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted 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 buying an additional 39,526 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Rigetti Computing in the second quarter valued at about $88,000. XTX Topco Ltd grew its stake in Rigetti Computing by 1,121.1% during the 2nd quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock valued at $167,000 after purchasing an additional 143,697 shares in the last quarter. Caprock Group LLC acquired a new stake in Rigetti Computing during the 2nd quarter valued at approximately $42,000. Finally, Rhumbline Advisers purchased a new stake in Rigetti Computing during the 2nd quarter worth approximately $161,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Rigetti Computing Stock Performance

NASDAQ RGTI traded down $0.16 during trading hours on Tuesday, reaching $1.36. The company’s stock had a trading volume of 7,131,346 shares, compared to its average volume of 13,307,736. The stock has a market cap of $260.30 million, a PE ratio of -3.23 and a beta of 2.13. The business has a 50-day simple moving average of $0.97 and a 200 day simple moving average of $1.01. Rigetti Computing, Inc. has a 52 week low of $1.13 and a 52 week high of $1.69. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.03.

Analysts Set New Price Targets

Several equities analysts have recently commented on RGTI shares. B. Riley began coverage on Rigetti Computing in a research note on Thursday, July 25th. They set a “buy” rating and a $3.00 target price for the company. Needham & Company LLC reduced their price target on shares of Rigetti Computing from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Insider Activity at Rigetti Computing

In related news, Director Helene Gail Sandford sold 43,200 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total value of $35,424.00. Following the sale, the director now owns 257,752 shares of the company’s stock, valued at $211,356.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.81% of the company’s stock.

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.