Bordeaux Wealth Advisors LLC Takes $429,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Bordeaux Wealth Advisors LLC purchased a new position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 34,431 shares of the electric vehicle automaker's stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RIVN. Brighton Jones LLC lifted its position in shares of Rivian Automotive by 28.0% in the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock worth $235,000 after buying an additional 3,864 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Rivian Automotive by 30.6% in the fourth quarter. Private Advisor Group LLC now owns 64,870 shares of the electric vehicle automaker's stock worth $863,000 after buying an additional 15,213 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Rivian Automotive by 153.7% in the fourth quarter. IFP Advisors Inc now owns 8,007 shares of the electric vehicle automaker's stock worth $106,000 after buying an additional 4,851 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Rivian Automotive by 36.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 148,423 shares of the electric vehicle automaker's stock worth $1,974,000 after buying an additional 39,751 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Rivian Automotive by 4.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock worth $354,000 after buying an additional 1,160 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Insider Activity

In other news, CFO Claire Mcdonough sold 9,937 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total value of $149,055.00. Following the sale, the chief financial officer now directly owns 851,637 shares in the company, valued at approximately $12,774,555. This represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 107,144 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $15.25, for a total value of $1,633,946.00. Following the completion of the sale, the chief executive officer now owns 1,483,111 shares in the company, valued at approximately $22,617,442.75. This represents a 6.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,836 shares of company stock worth $4,357,459. Company insiders own 2.16% of the company's stock.

Analysts Set New Price Targets

RIVN has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Wedbush cut their price objective on Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wall Street Zen raised Rivian Automotive from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Guggenheim reissued a "buy" rating and set a $16.00 price objective on shares of Rivian Automotive in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company cut their price objective on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.33.

Rivian Automotive Stock Performance

RIVN traded down $0.31 on Friday, hitting $13.60. 27,432,159 shares of the stock traded hands, compared to its average volume of 34,438,494. Rivian Automotive, Inc. has a 52 week low of $9.50 and a 52 week high of $18.86. The company has a current ratio of 3.73, a quick ratio of 2.80 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $15.38 billion, a PE ratio of -3.66 and a beta of 1.86. The business has a fifty day moving average price of $14.09 and a two-hundred day moving average price of $13.18.

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

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.