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David Rivas, Chief Technology Officer at Rigetti Computing, Inc. (NASDAQ:RGTI), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Rivas sold 275,000 shares of Rigetti’s common stock on March 14, 2025. The shares were sold at a weighted average price of $9.12, with individual transaction prices ranging from $9.03 to $9.28. This transaction resulted in a total sale value of approximately $2.5 million. The stock, which currently trades at $11.22, has shown remarkable momentum with a 926% gain over the past six months. According to InvestingPro analysis, the stock appears overvalued at current levels.
Following this sale, Rivas retains ownership of 819,738 shares in the company. The sale was conducted as a direct transaction, indicating that Rivas personally held the shares. This move comes as Rigetti Computing continues to navigate the competitive landscape of quantum computing technology. While the company maintains strong liquidity with a current ratio of 17.42, InvestingPro data reveals 10+ additional key insights about RGTI’s financial health and market position, available exclusively to subscribers.
In other recent news, D-Wave Quantum announced a stronger-than-expected revenue forecast for the current quarter, surpassing analysts’ expectations. This announcement followed the publication of a peer-reviewed paper in Science, demonstrating the company’s quantum computer’s ability to outperform one of the world’s most powerful classical supercomputers. Needham analyst N. Quinn Bolton maintained a Buy rating on D-Wave, citing the company’s scientific achievements and financial improvements, including a strengthened balance sheet and a significant system sale. Meanwhile, Rigetti Computing reported a significant earnings miss for Q4 2024, with an EPS of -$0.68 compared to a forecast of -$0.08, and revenues of $2.3 million falling short of the expected $2.52 million. Despite the financial setbacks, Rigetti continues to focus on expanding its quantum capabilities and has entered a strategic collaboration with Quanta Computer Inc. to accelerate development in superconducting quantum computing. Rigetti also launched its 84-qubit ANCA3 quantum system and reported advancements in quantum technology. The company raised $153.3 million through equity offerings, bolstering its cash reserves to $217.2 million, and aims to achieve a revenue increase in the coming years.
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