Ethic Inc. Has $522,000 Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Ethic Inc. lifted its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 122.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 39,222 shares of the electric vehicle automaker's stock after purchasing an additional 21,580 shares during the quarter. Ethic Inc.'s holdings in Rivian Automotive were worth $522,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RIVN. Charles Schwab Investment Management Inc. grew its holdings in Rivian Automotive by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock worth $63,055,000 after acquiring an additional 133,781 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Rivian Automotive during the 4th quarter worth about $1,363,000. Groupama Asset Managment bought a new stake in Rivian Automotive during the 4th quarter worth about $26,600,000. SG Americas Securities LLC grew its holdings in Rivian Automotive by 42.7% during the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock worth $2,404,000 after acquiring an additional 54,053 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Rivian Automotive during the 4th quarter worth about $10,448,000. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Up 3.0%

RIVN stock traded up $0.48 during mid-day trading on Monday, hitting $16.29. 43,821,399 shares of the company were exchanged, compared to its average volume of 36,119,895. 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 cap of $18.42 billion, a P/E ratio of -3.45 and a beta of 1.86. The firm's 50 day simple moving average is $12.49 and its 200 day simple moving average is $12.57. Rivian Automotive, Inc. has a 1-year low of $9.50 and a 1-year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping the consensus estimate 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%. On average, sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. This trade represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. This trade represents a 7.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 391,121 shares of company stock worth $5,299,517. Company insiders own 2.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Needham & Company LLC decreased their price objective on shares of Rivian Automotive from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wedbush reduced their target price on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company reduced their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $16.00 target price on shares of Rivian Automotive in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $14.24.

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.