CFO Bertelsen sold 231,250 shares for $2.7M across 3 transactions (May 19-21), reducing stake by 55.2% to 187,500 shares.
Jeffrey A. Bertelsen, Chief Financial Officer of Rigetti Computing, executed 3 separate sales totaling 231,250 shares for $2,696,334.85 at prices ranging from $11.64 to $11.95 during May 19-21, reducing his holdings from 418,750 shares to 187,500 shares (a -55.2% reduction). The sales occurred at a blended average price of $11.66, notably above the current price of $10.96 and within the 52-week range, while the stock has appreciated +35.1% over the trailing 30 days from a much lower recent base. The company's fundamentals show deteriorating revenue (-10.1% annual decline to $1,472,000 in the latest quarter) and full-year unprofitability, despite a recent quarterly net income figure of $42,619,000, suggesting substantial accounting adjustments or one-time gains. A large majority stake reduction by a CFO during a period of operational headwinds and following strong near-term price momentum warrants examination of the company's forward outlook and any associated capital deployment plans.