While Rigetti Computing, Inc. (NASDAQ: RGTI) stock experienced a 14% increase this week, investors should proceed with caution as company insiders have sold approximately $645k worth of stock in the past 12 months. While insider transactions aren’t the sole factor in long-term investment decisions, keeping a close eye on insider activities is considered a prudent practice.
In the last year, the most notable insider sale was executed by Independent Director Cathy McCarthy, who sold shares worth $451k at a price of $2.44 per share. Though insider selling generally raises concerns, the fact that the sale occurred well above the current stock price of $1.27 provides a degree of reassurance.
Over the past 12 months, no insiders have purchased shares of Rigetti Computing. The visual representation below illustrates insider transactions, including share prices, individuals involved, and transaction dates.
Recent months have witnessed some insider selling at Rigetti Computing, totaling $49k in the last three months. While this amount may not be substantial enough to trigger alarms, the absence of buying activity is less than encouraging.
Insiders currently hold approximately 4.4% of Rigetti Computing, valued at around $8.3m. While this level of insider ownership is not exceptionally high, it is not insignificant.
In conclusion, recent insider selling at Rigetti Computing raises some concerns, particularly in light of the absence of insider buying. Although the sales were relatively modest, investors are advised to exercise caution and take into account potential risks facing the company.
