Rigetti Computing ($RGTI) has surged 7% today, according to price data from Polygon, as trading volume reached approximately $166.7 million. While the stock is enjoying strong momentum, a deeper look into insider transactions and institutional moves reveals a mixed sentiment in the market.
Insider Trading Activity in $RGTI
In the past six months, Rigetti insiders have traded on the open market 15 times, with all transactions being sales and zero purchases. This trend raises questions about confidence in the stock’s long-term potential.
Here’s a breakdown of key insider sales:
- Venture Partners X L.P. Bessemer offloaded 2,666,993 shares for an estimated $4.12 million across four sales.
- Michael S. Clifton executed four sales, selling 500,000 shares for approximately $2.25 million.
- David Rivas (Chief Technology Officer) sold 89,846 shares, netting $144,661 over two transactions.
- Cathy L. McCarthy disposed of 50,000 shares for an estimated $78,000.
- Helene Gail Sandford sold 66,362 shares for $52,795 over two sales.
- Alissa Fitzgerald sold 17,294 shares for approximately $13,835.
- Richard Danis (General Counsel & Corporate Secretary) sold 5,982 shares, collecting around $9,272.
With heavy insider selling and no purchases, market participants may wonder whether company executives are taking profits or signaling concerns about future performance.
Hedge Fund & Institutional Interest in $RGTI
While insiders have been selling, institutional investors have been making bold moves in Rigetti Computing. 189 institutional investors increased their holdings, while 49 reduced their positions in the most recent quarter.
Notable Institutional Moves:
- Deer Management Co. LLC completely exited its position, removing 21.58 million shares (-100%) worth $329.3 million in Q4 2024.
- Vanguard Group Inc significantly increased its stake, adding 5.28 million shares (+81.7%) for $80.57 million.
- Invesco Ltd. made a huge bet, increasing its stake by 7,367.2% with an addition of 4.52 million shares, valued at $68.96 million.
- UBS Group AG also made a strong move, adding 3.19 million shares (+4,480.5%) for $48.71 million.
- Penserra Capital Management LLC cut its stake by 65.5%, selling 2.98 million shares worth $45.51 million.
- BlackRock Inc. added 2.44 million shares (+25.9%) for $37.3 million.
- JPMorgan Chase & Co. made an aggressive purchase, increasing its stake by 3,295.7%, adding 2.05 million shares valued at $31.36 million.
What’s Next for $RGTI?
With hedge funds and institutions showing confidence while insiders are offloading shares, investors may need to carefully assess the company’s fundamentals, future prospects, and potential risks before making any investment decisions. Will Rigetti’s rally continue, or is insider selling a warning sign? Time will tell, but for now, the stock remains a high-interest topic in the market.
