Rigetti Computing (NASDAQ:RGTI) COO David Rivas Sells 9,038 Shares of Stock

Rigetti Computing, Inc. (NASDAQ:RGTI) COO David Rivas sold 9,038 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $16.79, for a total transaction of $151,748.02. Following the sale, the chief operating officer directly owned 316,907 shares of the company’s stock, valued at approximately $5,320,868.53. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

David Rivas also recently made the following trade(s):

• On Friday, May 29th, David Rivas sold 499,328 shares of Rigetti Computing stock. The stock was sold at an average price of $25.40, for a total transaction of $12,682,931.20.
• On Friday, May 22nd, David Rivas sold 18,759 shares of Rigetti Computing stock. The stock was sold at an average price of $22.96, for a total transaction of $430,706.64.

Rigetti Computing Trading Down 5.5%

Shares of NASDAQ:RGTI traded down $0.93 during midday trading on Thursday, reaching $16.07. 19,838,649 shares of the company were exchanged, compared to its average volume of 32,422,680. The stock has a market cap of $5.36 billion, a PE ratio of -17.86 and a beta of 1.99. The business’s fifty day moving average is $17.53 and its two-hundred day moving average is $17.74. Rigetti Computing, Inc. has a one year low of $12.53 and a one year high of $58.15.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $5.14 million for the quarter, compared to the consensus estimate of $5.09 million. Rigetti Computing had a negative net margin of 2,189.54% and a negative return on equity of 17.50%. As a group, sell-side analysts expect that Rigetti Computing, Inc. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Rigetti Computing

Several institutional investors have recently modified their holdings of RGTI. Clear Street Group Inc. raised its holdings in Rigetti Computing by 71.1% during the 4th quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company’s stock valued at $60,761,000 after buying an additional 1,140,183 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in Rigetti Computing by 105.3% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company’s stock worth $1,733,000 after buying an additional 63,331 shares during the period. Intech Investment Management LLC increased its position in Rigetti Computing by 66.3% during the fourth quarter. Intech Investment Management LLC now owns 120,260 shares of the company’s stock valued at $2,664,000 after acquiring an additional 47,935 shares during the last quarter. Spear Advisors LLC bought a new position in Rigetti Computing during the fourth quarter valued at $2,062,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Rigetti Computing in the fourth quarter valued at $4,937,000. 35.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on RGTI. Jefferies Financial Group reiterated a “hold” rating and issued a $18.00 target price on shares of Rigetti Computing in a research report on Friday, August 7th. Needham & Company LLC restated a “buy” rating and set a $31.00 price target on shares of Rigetti Computing in a report on Tuesday, May 12th. Wedbush initiated coverage on Rigetti Computing in a research note on Monday, August 3rd. They issued an “outperform” rating and a $40.00 price objective on the stock. Mizuho decreased their price objective on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Finally, Benchmark started coverage on Rigetti Computing in a research report on Monday, July 27th. They set a “buy” rating and a $25.00 target price for the company. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.67.

Key Stories Impacting Rigetti Computing

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rigetti created a dedicated Systems Delivery organization to support growing demand for on-premises quantum systems. David Rivas was appointed Chief Operating Officer to oversee manufacturing, delivery, customer-facing engineering, and commercial operations, while Andrew Bestwick, Ph.D., became Chief Technology Officer to focus on chip and processor development. The company is targeting 99.5% median two-qubit gate fidelity for its Cepheus-1-108Q system. Rigetti operating structure announcement
• Positive Sentiment: Second-quarter revenue increased to $5.14 million from $1.80 million a year earlier, and Rigetti received a U.S. Department of Commerce letter of intent for up to $100 million in quantum research and development support. New system deliveries involving partners including Nvidia and HPE also strengthen the commercial-growth narrative, although the company remains deeply unprofitable. Rigetti revenue and R&D support article
• Neutral Sentiment: Analyst coverage remains broadly bullish, with previously published price targets ranging from $25 to $40, well above recent trading levels. However, these targets are based on expectations for future technology and commercial execution rather than current profitability. Rigetti analyst views
• Negative Sentiment: Investors viewed the separation of delivery and chip-development leadership as a major shake-up, intensifying concerns that Rigetti may have needed a reorganization to address execution challenges. The upcoming resignation of board member Dr. Ray Johnson adds to the perception of leadership turnover. Rigetti leadership shake-up article
• Negative Sentiment: Quantum-computing stocks were sold broadly, including Rigetti, IonQ, and D-Wave, without a clear company-specific catalyst. The sector remains highly sensitive to interest rates and risk appetite because these companies are pre-profit and richly valued. Quantum stock selloff article
• Negative Sentiment: Despite strong revenue growth, Rigetti’s second-quarter net loss widened to $52.61 million from $39.65 million a year earlier. The company’s continuing losses and reported insider selling further reinforce investor concerns about valuation and cash usage.

About Rigetti Computing

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.