Ensign Peak Advisors Inc Purchases 19,190 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Ensign Peak Advisors Inc lifted its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340,039 shares of the electric vehicle automaker's stock after purchasing an additional 19,190 shares during the quarter. Ensign Peak Advisors Inc's holdings in Rivian Automotive were worth $4,523,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RIVN. Tandem Financial LLC bought a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $27,000. Bear Mountain Capital Inc. raised its stake in Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after buying an additional 1,932 shares during the last quarter. Quarry LP purchased a new position in Rivian Automotive during the fourth quarter valued at $38,000. Finally, AllSquare Wealth Management LLC raised its stake in Rivian Automotive by 8,794.1% during the fourth quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock valued at $40,000 after buying an additional 2,990 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RIVN. Sanford C. Bernstein began coverage on Rivian Automotive in a research note on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price objective for the company. Guggenheim reiterated a "buy" rating and set a $16.00 price objective on shares of Rivian Automotive in a research note on Tuesday, May 6th. Barclays lifted their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Mizuho lifted their price objective on Rivian Automotive from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Benchmark reiterated a "buy" rating and set a $18.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 18th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Rivian Automotive presently has an average rating of "Hold" and a consensus price target of $14.16.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $14.82 on Thursday. The stock has a 50-day simple moving average of $12.20 and a two-hundred day simple moving average of $12.43. Rivian Automotive, Inc. has a 52-week low of $9.50 and a 52-week high of $18.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The firm has a market capitalization of $16.76 billion, a PE ratio of -3.14 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of the company'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 completion of the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Monday, March 24th. The stock was 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 directly owns 853,011 shares of the company's stock, valued at approximately $10,082,590.02. This trade represents a 7.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,427 shares of company stock valued at $2,154,905. Company insiders own 2.51% of the company's stock.

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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