Michael Clifton Sells Shares of Rigetti Computing

Michael Clifton, an insider at Rigetti Computing, Inc., sold 94,733 shares of the company on June 15, 2026. The shares were sold at an average price of $12.00 each, amounting to a total transaction value of approximately $1.14 million. This transaction was not part of a pre-planned trading program.

Insider Buying and Selling at Rigetti Computing, Inc.

In addition to Clifton's recent sale, he also sold 4,361 shares at $10.91 on June 12, 2026. On June 9, 2026, several insiders, including Clifton, Alissa Fitzgerald, Thomas Iannotti, and Ray Johnson, each acquired 9,208 shares without a specified price, reflecting internal movements within the company's stock.

Other Institutional Activity in Rigetti Computing

Several institutional investors have also been active in Rigetti Computing. BlackRock, Inc. reduced its holdings by 709,175 shares, ending with 25,435,282 shares valued at approximately $357.1 million. Vanguard Portfolio Management LLC initiated a new position with 19,466,522 shares worth about $273.3 million. Similarly, Vanguard Capital Management LLC added 14,258,562 shares, resulting in a stake valued at $200.2 million. D. E. Shaw & Co., Inc. significantly increased its position by 10,402,657 shares, now holding 13,922,073 shares worth around $195.5 million. State Street Corp boosted its stake by 1,083,238 shares to a total of 10,138,079 shares valued at $142.3 million.

Rigetti Computing Stock Snapshot

Shares of NasdaqCM:RGTI are trading near $20.98. Rigetti Computing has a market cap of $7.55 billion. The company isn't currently profitable, with a forward P/E ratio that isn't meaningful. The stock has a 52-week low of $10.30 and a high of $58.15, with a 50-day moving average of $19.43 and a 200-day moving average of $23.68. Rigetti's beta is 1.902, indicating a higher volatility compared to the market.

Recent Earnings

Rigetti Computing reported revenue of $10.02 million, reflecting a growth rate of 1.989%. However, the company has a net margin of 0% and a negative return on equity of -57.09%. The company has scheduled its next earnings release for August 12, 2026.

Analysts Set New Price Targets

On June 11, 2026, Rosenblatt maintained its 'buy' rating for Rigetti Computing, setting a price target of $40. Mizuho also maintained a 'buy' rating with a $27 target on May 12, 2026. Overall, analysts have a 'buy' consensus, with a mean target price of $29.24 based on 12 opinions.

About Rigetti Computing

Rigetti Computing, Inc. is a technology company headquartered in Berkeley, California. It focuses on building and operating quantum computers and superconducting quantum processors. The company offers quantum processing units and quantum computing systems, providing access through the cloud as Quantum Computing as a Service (QCaaS). Rigetti serves a diverse clientele, including commercial enterprises and government organizations, with its advanced quantum computing solutions.

Bottom Line

Michael Clifton's recent insider sale of Rigetti shares is a significant transaction, highlighting internal trading activity. Investors keep a close eye on such movements and analyst ratings to gauge the company's potential. As a reminder, these insider transactions are disclosed after the fact and don't necessarily indicate future performance.