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BERKELEY, CA—Sandford Helene Gail, a director at Rigetti Computing, Inc. (NASDAQ:RGTI), recently sold a substantial portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Gail sold 47,648 shares of common stock on June 10, 2025. The shares were sold at an average price of $11.1852, amounting to a total transaction value of approximately $532,952. The stock, which has shown remarkable strength with a 970% return over the past year, currently trades at $12.52, suggesting continued momentum since the transaction.
The sale was executed under a Rule 10b5-1 trading plan, which Gail adopted on June 10, 2024. Following this transaction, Gail retains 210,104 shares of Rigetti Computing. Additionally, she received an annual grant of 14,902 restricted stock units as part of her service as a director, which will vest by June 2026, contingent upon her continued service with the company. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $14 to $16, suggesting potential upside from current levels.
These transactions reflect Gail’s ongoing involvement with the company as well as her strategic management of her equity holdings in the $3.29 billion market cap quantum computing firm. While the company currently shows weak financial health metrics, it maintains strong liquidity with a current ratio of 18.82.
In other recent news, Rigetti Computing has completed a $350 million stock sale to bolster its quantum computing initiatives, bringing its total cash reserves to approximately $575 million. The company plans to utilize these funds for working capital, capital expenditures, and potentially for strategic collaborations or acquisitions. Rigetti’s Q1 2025 earnings report revealed an unexpected earnings per share (EPS) of $0.13, exceeding the anticipated loss of $0.05. However, revenue fell short of expectations, totaling $1.47 million against a forecast of $2.82 million, with gross margins declining to 30% from 49% the previous year. Despite these mixed results, Benchmark analyst David Williams maintained a Buy rating on Rigetti, with a target price of $14, citing confidence in the company’s technological advancements and strategic position. Williams highlighted Rigetti’s superconducting methodology and modular architecture as key factors in overcoming scalability challenges. Additionally, Rigetti’s strategic collaboration with Quanta Computer has been solidified with a $35 million investment, aimed at enhancing the non-GPU hardware portion of its technology stack. These developments underscore Rigetti’s ongoing efforts to advance its position in the quantum computing sector.
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