Symmetry Investments LP Purchases New Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Symmetry Investments LP bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 26,830 shares of the electric vehicle automaker's stock, valued at approximately $357,000.

Other large investors have also added to or reduced their stakes in the company. Tandem Financial LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new position in Rivian Automotive during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive in the 3rd quarter valued at $28,000. Bear Mountain Capital Inc. lifted its position in shares of Rivian Automotive by 208.0% during the 4th 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 during the period. Finally, AllSquare Wealth Management LLC grew its holdings in shares of Rivian Automotive by 8,794.1% during the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock worth $40,000 after purchasing an additional 2,990 shares in the last quarter. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Trading Up 4.4 %

NASDAQ:RIVN traded up $0.53 on Friday, reaching $12.62. 24,445,614 shares of the stock traded hands, compared to its average volume of 36,524,350. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of -2.67 and a beta of 1.89. Rivian Automotive, Inc. has a 1-year low of $8.84 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. The company's 50 day moving average is $11.71 and its 200-day moving average is $12.12.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $11.82, for a total transaction of $844,290.78. Following the transaction, the chief executive officer now directly owns 853,011 shares of the company's stock, valued at $10,082,590.02. This represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock valued at $2,154,905 in the last ninety days. 2.51% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RIVN. Wells Fargo & Company boosted their price target on Rivian Automotive from $11.00 to $14.00 and gave the company an "equal weight" rating in a research note on Friday, February 21st. TD Cowen initiated coverage on shares of Rivian Automotive in a report on Friday, March 7th. They set a "hold" rating and a $12.70 price target for the company. Barclays lifted their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Benchmark restated a "buy" rating and set a $18.00 target price on shares of Rivian Automotive in a research note on Tuesday, March 18th. Finally, Guggenheim decreased their price target on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Rivian Automotive currently has a consensus rating of "Hold" and a consensus target price of $14.08.

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.