SBI Securities Co. Ltd. Acquires New Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

SBI Securities Co. Ltd. purchased a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 103,937 shares of the electric vehicle automaker's stock, valued at approximately $1,382,000.

Other large investors have also added to or reduced their stakes in the company. John G Ullman & Associates Inc. boosted its holdings in Rivian Automotive by 9.1% during the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker's stock worth $135,000 after purchasing an additional 1,000 shares during the last quarter. RFG Holdings Inc. increased its position in shares of Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock valued at $296,000 after purchasing an additional 1,096 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Rivian Automotive by 4.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock valued at $354,000 after acquiring an additional 1,160 shares during the last quarter. Tradition Wealth Management LLC lifted its holdings in Rivian Automotive by 11.9% during the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker's stock valued at $132,000 after purchasing an additional 1,250 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in Rivian Automotive by 8.6% during the third quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker's stock valued at $204,000 after buying an additional 1,446 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.

Rivian Automotive Stock Down 3.6 %

NASDAQ:RIVN traded down $0.41 during mid-day trading on Thursday, hitting $11.01. The company had a trading volume of 14,676,334 shares, compared to its average volume of 38,247,300. The business has a fifty day simple moving average of $13.17 and a 200-day simple moving average of $12.39. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of -2.33 and a beta of 2.04. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Equities analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,357 shares of company stock worth $3,988,140. 2.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RIVN shares. Royal Bank of Canada decreased their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Baird R W downgraded shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. UBS Group boosted their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Piper Sandler decreased their target price on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Finally, Benchmark began coverage on Rivian Automotive in a research note on Monday, December 9th. They issued a "buy" rating and a $18.00 price target for the company. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.87.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.