Brevan Howard Capital Management LP Takes $2.70 Million Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Brevan Howard Capital Management LP purchased a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 202,856 shares of the electric vehicle automaker's stock, valued at approximately $2,698,000.

Several other large investors have also bought and sold shares of the business. Caxton Associates LP bought a new stake in shares of Rivian Automotive during the 4th quarter valued at $1,011,000. Baker Avenue Asset Management LP grew its stake in shares of Rivian Automotive by 11.1% during the fourth quarter. Baker Avenue Asset Management LP now owns 292,966 shares of the electric vehicle automaker's stock worth $3,896,000 after purchasing an additional 29,253 shares during the period. Bayesian Capital Management LP bought a new stake in Rivian Automotive in the fourth quarter valued at about $892,000. 1248 Management LLC acquired a new position in Rivian Automotive in the fourth quarter valued at about $348,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Rivian Automotive by 8.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 65,710 shares of the electric vehicle automaker's stock worth $874,000 after buying an additional 5,141 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. This represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,427 shares of company stock worth $2,154,905. Insiders own 2.51% of the company's stock.

Rivian Automotive Trading Down 2.0 %

Rivian Automotive stock opened at $13.55 on Tuesday. The company has a market cap of $15.32 billion, a price-to-earnings ratio of -2.87 and a beta of 1.86. The firm has a 50-day moving average of $11.83 and a 200-day moving average of $12.27. 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 one year low of $9.25 and a one year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. On average, equities analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RIVN shares. Cowen started coverage on shares of Rivian Automotive in a research report on Thursday, March 6th. They issued a "hold" rating on the stock. Barclays increased their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 22nd. Bank of America cut shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $13.00 to $10.00 in a research report on Monday, February 24th. Benchmark reiterated a "buy" rating and set a $18.00 target price on shares of Rivian Automotive in a report on Tuesday, March 18th. Finally, Piper Sandler cut Rivian Automotive from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $19.00 to $13.00 in a research note on Thursday, March 20th. Three investment 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 MarketBeat.com, Rivian Automotive has a consensus rating of "Hold" and a consensus 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.

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