Capital International Investors Makes New $144.03 Million Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Capital International Investors acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,829,346 shares of the electric vehicle automaker's stock, valued at approximately $144,030,000. Capital International Investors owned about 1.06% of Rivian Automotive as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive in the third quarter valued at $28,000. Bear Mountain Capital Inc. lifted its position in shares of Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after acquiring an additional 1,932 shares in the last quarter. Finally, AllSquare Wealth Management LLC lifted its position in shares of Rivian Automotive by 8,794.1% in the fourth quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock valued at $40,000 after acquiring an additional 2,990 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. UBS Group dropped their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Cowen assumed coverage on Rivian Automotive in a research note on Thursday, March 6th. They issued a "hold" rating for the company. Piper Sandler lowered Rivian Automotive from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $19.00 to $13.00 in a research note on Thursday, March 20th. Finally, TD Cowen assumed coverage on Rivian Automotive in a research note on Friday, March 7th. They issued a "hold" rating and a $12.70 target price for the company. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.17.

Rivian Automotive Stock Up 5.4 %

Shares of RIVN traded up $0.61 during mid-day trading on Wednesday, reaching $11.97. 14,376,954 shares of the stock traded hands, compared to its average volume of 36,477,771. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of -2.54 and a beta of 1.89. The stock has a fifty day simple moving average of $11.83 and a 200 day simple moving average of $12.09. Rivian Automotive, Inc. has a 12-month low of $8.46 and a 12-month high of $18.86. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

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

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total value of $844,290.78. Following the completion of the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at $10,082,590.02. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The stock was 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 directly owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,714 shares of company stock valued at $1,745,634. 2.51% of the stock is currently owned by corporate insiders.

About Rivian Automotive

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.