370,626 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 370,626 shares of the electric vehicle automaker's stock, valued at approximately $4,929,000.

Several other institutional investors have also recently modified their holdings of the company. John G Ullman & Associates Inc. grew its position 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 valued at $135,000 after acquiring an additional 1,000 shares during the last quarter. RFG Holdings Inc. boosted its stake in shares of Rivian Automotive by 5.2% in 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 in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock valued at $354,000 after purchasing an additional 1,160 shares during the last quarter. Freestone Capital Holdings LLC raised its position in Rivian Automotive by 4.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock worth $390,000 after purchasing an additional 1,164 shares during the period. Finally, Tradition Wealth Management LLC lifted its stake in Rivian Automotive by 11.9% in the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker's stock worth $132,000 after purchasing an additional 1,250 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Stock Up 2.5 %

Shares of Rivian Automotive stock traded up $0.27 during trading on Monday, hitting $11.02. The company's stock had a trading volume of 22,338,563 shares, compared to its average volume of 36,991,502. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.86. The company has a market capitalization of $12.46 billion, a PE ratio of -2.33 and a beta of 2.03. The company has a fifty day simple moving average of $12.74 and a two-hundred day simple moving average of $12.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

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, 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Equities research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Activity at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the sale, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock valued at $2,735,619 in the last 90 days. Corporate insiders own 2.51% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RIVN. Wells Fargo & Company lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock an "equal weight" rating in a report on Friday, February 21st. Mizuho lowered their price objective on Rivian Automotive from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Monday. Needham & Company LLC raised their target price on shares of Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Robert W. Baird reaffirmed a "neutral" rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Finally, Truist Financial increased their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Rivian Automotive currently has a consensus rating of "Hold" and an average price target of $14.64.

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.