UNICOM Systems Inc. Has $104.92 Million Stock Position in Rigetti Computing, Inc. $RGTI

UNICOM Systems Inc. lessened its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,521,935 shares of the company’s stock after selling 285,000 shares during the period. Rigetti Computing comprises approximately 10.4% of UNICOM Systems Inc.’s holdings, making the stock its 4th biggest holding. UNICOM Systems Inc.’s holdings in Rigetti Computing were worth $104,918,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RGTI. IFP Advisors Inc lifted its holdings in Rigetti Computing by 146.1% during the 2nd quarter. IFP Advisors Inc now owns 2,190 shares of the company’s stock valued at $26,000 after purchasing an additional 1,300 shares during the last quarter. Quarry LP acquired a new stake in shares of Rigetti Computing during the first quarter worth approximately $31,000. Armstrong Advisory Group Inc. raised its stake in shares of Rigetti Computing by 225.4% in the second quarter. Armstrong Advisory Group Inc. now owns 2,974 shares of the company’s stock valued at $35,000 after acquiring an additional 2,060 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Rigetti Computing in the first quarter valued at approximately $42,000. Finally, Hollencrest Capital Management grew its position in Rigetti Computing by 458.3% during the 2nd quarter. Hollencrest Capital Management now owns 4,020 shares of the company’s stock worth $48,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Trading Up 6.5%

Shares of NASDAQ:RGTI opened at $23.60 on Friday. Rigetti Computing, Inc. has a 1-year low of $5.95 and a 1-year high of $58.15. The stock has a market capitalization of $7.79 billion, a P/E ratio of -18.15 and a beta of 1.70. The business has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $23.93.

Rigetti Computing (NASDAQ:RGTI) last issued its earnings results on Monday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Rigetti Computing had a negative net margin of 4,741.49% and a negative return on equity of 21.98%. The company had revenue of $1.95 million for the quarter, compared to analyst estimates of $2.17 million. The company’s revenue for the quarter was down 18.1% compared to the same quarter last year. As a group, equities analysts predict that Rigetti Computing, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, Director Helene Gail Sandford sold 62,000 shares of Rigetti Computing stock in a transaction on Friday, October 17th. The shares were sold at an average price of $44.89, for a total transaction of $2,783,180.00. Following the completion of the sale, the director owned 120,371 shares of the company’s stock, valued at approximately $5,403,454.19. The trade was a 34.00% 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 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Williams Trading set a $40.00 price objective on Rigetti Computing in a research report on Tuesday, November 11th. Benchmark cut their price target on Rigetti Computing from $50.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Jefferies Financial Group began coverage on shares of Rigetti Computing in a research report on Tuesday, December 16th. They set a “hold” rating and a $30.00 price target on the stock. B. Riley lowered their price objective on shares of Rigetti Computing from $42.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Mizuho began coverage on shares of Rigetti Computing in a research report on Thursday, December 11th. They set an “outperform” rating and a $50.00 target price on the stock. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.22.

Rigetti Computing Company Profile

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.