Signaturefd LLC raised its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,699 shares of the electric vehicle automaker’s stock after purchasing an additional 1,519 shares during the period. Signaturefd LLC’s holdings in Rivian Automotive were worth $252,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of RIVN. BlackRock Inc. boosted its holdings in Rivian Automotive by 44.7% in the 3rd quarter. BlackRock Inc. now owns 46,561,674 shares of the electric vehicle automaker’s stock valued at $1,532,346,000 after purchasing an additional 14,384,763 shares during the period. Vanguard Group Inc. raised its position in shares of Rivian Automotive by 46.4% in the 3rd quarter. Vanguard Group Inc. now owns 36,236,702 shares of the electric vehicle automaker’s stock valued at $1,192,551,000 after buying an additional 11,483,566 shares in the last quarter. First Trust Advisors LP raised its position in shares of Rivian Automotive by 1,650.2% in the 3rd quarter. First Trust Advisors LP now owns 5,862,841 shares of the electric vehicle automaker’s stock valued at $192,946,000 after buying an additional 5,527,857 shares in the last quarter. State Street Corp raised its position in shares of Rivian Automotive by 145.5% in the 3rd quarter. State Street Corp now owns 9,064,249 shares of the electric vehicle automaker’s stock valued at $298,304,000 after buying an additional 5,371,852 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Rivian Automotive by 218.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,841,340 shares of the electric vehicle automaker’s stock valued at $60,598,000 after buying an additional 1,263,501 shares in the last quarter. Institutional investors own 67.97% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on RIVN. Piper Sandler cut shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $63.00 to $15.00 in a research report on Friday. Mizuho lowered their price objective on shares of Rivian Automotive from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, March 9th. Morgan Stanley lowered their price objective on shares of Rivian Automotive from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. DA Davidson lowered their price objective on shares of Rivian Automotive from $23.00 to $16.00 in a research report on Wednesday, March 1st. Finally, Robert W. Baird lowered their price objective on shares of Rivian Automotive from $44.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.10.
Insider Activity
In other news, CAO Jeff Baker sold 2,331 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.98, for a total value of $44,242.38. Following the sale, the chief accounting officer now directly owns 87,000 shares of the company’s stock, valued at approximately $1,651,260. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC website. In related news, CAO Jeff Baker sold 2,331 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.98, for a total transaction of $44,242.38. Following the transaction, the chief accounting officer now directly owns 87,000 shares of the company’s stock, valued at $1,651,260. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, CFO Claire Mcdonough sold 2,090 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $18.99, for a total transaction of $39,689.10. Following the transaction, the chief financial officer now directly owns 75,804 shares in the company, valued at $1,439,517.96. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.
Rivian Automotive Stock Down 6.9 %
RIVN opened at $13.38 on Monday. Rivian Automotive, Inc. has a fifty-two week low of $12.58 and a fifty-two week high of $40.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.42 and a quick ratio of 4.86. The company’s 50 day moving average price is $16.08 and its two-hundred day moving average price is $22.65.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The electric vehicle automaker reported ($1.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.89) by $0.16. Rivian Automotive had a negative net margin of 407.24% and a negative return on equity of 37.49%. The company had revenue of $663.00 million for the quarter, compared to analyst estimates of $729.47 million. During the same period in the prior year, the firm posted ($2.43) EPS. The company’s quarterly revenue was up 1127.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -5.52 earnings per share for the current year.
Rivian Automotive Profile
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Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides a Rivian Commercial Vehicle platform for electric Delivery Vans with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
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