Mmbg Investment Advisors CO. Makes New $274,000 Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Mmbg Investment Advisors CO. acquired a new position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 22,005 shares of the electric vehicle automaker's stock, valued at approximately $274,000.

Several other large investors have also made changes to their positions in RIVN. PFS Partners LLC lifted its position in Rivian Automotive by 1,882.0% in the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock worth $25,000 after purchasing an additional 1,882 shares during the period. Orion Capital Management LLC bought a new stake in Rivian Automotive during the 4th quarter worth approximately $34,000. Quarry LP bought a new position in Rivian Automotive in the 4th quarter valued at $38,000. AllSquare Wealth Management LLC raised its position in Rivian Automotive by 8,794.1% in the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock valued at $40,000 after purchasing an additional 2,990 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Rivian Automotive by 107.9% in the first quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker's stock worth $41,000 after purchasing an additional 1,714 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group reaffirmed a "hold" rating and set a $16.00 price objective on shares of Rivian Automotive in a report on Wednesday, May 14th. Piper Sandler upped their price target on Rivian Automotive from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group dropped their price objective on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, UBS Group raised their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Rivian Automotive currently has an average rating of "Hold" and a consensus target price of $14.38.

Rivian Automotive Stock Down 4.5%

Shares of RIVN traded down $0.60 on Wednesday, hitting $12.87. The company's stock had a trading volume of 42,003,534 shares, compared to its average volume of 34,018,233. The company has a quick ratio of 2.80, a current ratio of 3.73 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of -3.46 and a beta of 1.81. The firm's fifty day moving average price is $14.18 and its 200-day moving average price is $13.16. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.23. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $981.52 million. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.48) earnings per share. On average, equities research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 17,185 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.39, for a total transaction of $264,477.15. Following the sale, the chief financial officer owned 824,875 shares in the company, valued at approximately $12,694,826.25. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,428 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $15.36, for a total value of $1,097,134.08. Following the transaction, the chief executive officer directly owned 1,483,111 shares in the company, valued at $22,780,584.96. This trade represents a 4.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,836 shares of company stock worth $4,357,459 over the last quarter. Company insiders own 2.16% of the company's stock.

About Rivian Automotive

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.