Bamco Inc. NY Has $856,000 Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Bamco Inc. NY lowered its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 71.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,389 shares of the electric vehicle automaker's stock after selling 162,157 shares during the period. Bamco Inc. NY's holdings in Rivian Automotive were worth $856,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tradition Wealth Management LLC boosted its stake in Rivian Automotive by 7.2% in the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock worth $168,000 after purchasing an additional 849 shares in the last quarter. RFG Holdings Inc. grew its stake in Rivian Automotive by 5.2% in the fourth quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock valued at $296,000 after acquiring an additional 1,096 shares during the period. Oppenheimer & Co. Inc. increased its stake in Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock worth $354,000 after purchasing an additional 1,160 shares in the last quarter. Freestone Capital Holdings LLC lifted 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 valued at $390,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Rivian Automotive by 8.3% during the fourth quarter. Advisory Services Network LLC now owns 17,158 shares of the electric vehicle automaker's stock worth $228,000 after buying an additional 1,314 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Up 4.2 %

RIVN traded up $0.58 during trading hours on Friday, hitting $14.26. 50,462,080 shares of the company's stock were exchanged, compared to its average volume of 36,228,091. 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, Inc. has a 12-month low of $9.50 and a 12-month high of $18.86. The firm has a market cap of $16.12 billion, a P/E ratio of -3.02 and a beta of 1.86. The firm has a 50 day moving average of $11.92 and a 200 day moving average of $12.31.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RIVN shares. The Goldman Sachs Group reduced 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. Piper Sandler downgraded Rivian Automotive from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $19.00 to $13.00 in a report on Thursday, March 20th. Cantor Fitzgerald restated a "neutral" rating and set a $15.00 price target on shares of Rivian Automotive in a report on Wednesday. Wells Fargo & Company decreased their price target on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Needham & Company LLC dropped their target price on shares of Rivian Automotive from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.99.

Insider Activity at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's 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 disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock valued at $2,154,905 over the last ninety days. Corporate insiders own 2.51% of the company's stock.

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.