499,840 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 499,840 shares of the electric vehicle automaker's stock, valued at approximately $6,648,000.

Other institutional investors have also recently made changes to their positions in the company. John G Ullman & Associates Inc. raised its holdings in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker's stock valued at $135,000 after buying an additional 1,000 shares during the period. GHP Investment Advisors Inc. raised its holdings in Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock valued at $29,000 after buying an additional 1,002 shares during the period. RFG Holdings Inc. raised its holdings in 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 buying an additional 1,096 shares during the period. Tradition Wealth Management LLC raised its holdings in Rivian Automotive by 11.9% during the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker's stock valued at $132,000 after buying an additional 1,250 shares during the period. Finally, Blue Trust Inc. raised its holdings in Rivian Automotive by 40.3% during the 3rd quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker's stock valued at $51,000 after buying an additional 1,301 shares during the period. Institutional investors own 66.25% of the company's stock.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 18,501 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the transaction, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. This trade represents a 4.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company's stock, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 366,788 shares of company stock worth $5,024,431. 2.51% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial upped their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Barclays increased their price target on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. Needham & Company LLC increased their price target on Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday. Cantor Fitzgerald downgraded Rivian Automotive from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Friday. Finally, Mizuho increased their price target on Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $15.09.

Rivian Automotive Stock Down 4.7 %

Rivian Automotive stock traded down $0.64 during midday trading on Friday, reaching $12.97. The company's stock had a trading volume of 70,315,891 shares, compared to its average volume of 24,614,404. The stock's 50-day simple moving average is $13.56 and its 200-day simple moving average is $12.51. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.85. The stock has a market capitalization of $13.24 billion, a P/E ratio of -2.75 and a beta of 2.04.

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

Rivian Automotive 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.