Rivian Automotive, Inc. (NASDAQ:RIVN) Holdings Lifted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 517.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,567 shares of the electric vehicle automaker's stock after buying an additional 46,561 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Rivian Automotive were worth $739,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Rivian Automotive during the 3rd quarter valued at about $4,184,000. Sanctuary Advisors LLC boosted its stake in shares of Rivian Automotive by 9.0% in the third quarter. Sanctuary Advisors LLC now owns 44,675 shares of the electric vehicle automaker's stock valued at $457,000 after purchasing an additional 3,681 shares during the period. World Investment Advisors LLC grew its holdings in Rivian Automotive by 8.6% during the 3rd quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker's stock valued at $204,000 after purchasing an additional 1,446 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Rivian Automotive during the 3rd quarter worth $28,000. Finally, Tidal Investments LLC lifted its holdings in Rivian Automotive by 28.8% in the 3rd quarter. Tidal Investments LLC now owns 268,952 shares of the electric vehicle automaker's stock worth $3,018,000 after buying an additional 60,205 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 35,713 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $11.46, for a total transaction of $409,270.98. Following the sale, the chief executive officer now directly owns 853,011 shares of the company's stock, valued at $9,775,506.06. The trade was a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive 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 completion of the transaction, the chief financial officer now directly 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. Over the last 90 days, insiders have sold 185,427 shares of company stock valued at $2,154,905. Corporate insiders own 2.51% of the company's stock.

Rivian Automotive Price Performance

RIVN stock traded up $0.26 during trading hours on Monday, hitting $12.88. 13,411,266 shares of the stock traded hands, compared to its average volume of 36,435,578. 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 stock has a 50-day simple moving average of $11.71 and a 200 day simple moving average of $12.13. Rivian Automotive, Inc. has a one year low of $8.84 and a one year high of $18.86. The company has a market cap of $14.57 billion, a P/E ratio of -2.73 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $1.43 billion. Equities analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on RIVN. Sanford C. Bernstein began coverage on Rivian Automotive in a report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price target for the company. TD Cowen initiated coverage on Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 price objective for the company. UBS Group reduced their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Needham & Company LLC boosted their price target on Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Guggenheim decreased their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a report on Monday, February 24th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.08.

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.