Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by Green Alpha Advisors LLC

Green Alpha Advisors LLC increased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 83.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,267 shares of the electric vehicle automaker's stock after buying an additional 51,374 shares during the period. Rivian Automotive accounts for about 1.5% of Green Alpha Advisors LLC's portfolio, making the stock its 18th largest position. Green Alpha Advisors LLC's holdings in Rivian Automotive were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Rhumbline Advisers boosted its stake in Rivian Automotive by 0.9% in the first quarter. Rhumbline Advisers now owns 903,283 shares of the electric vehicle automaker's stock valued at $11,246,000 after acquiring an additional 8,038 shares in the last quarter. Welch Group LLC purchased a new stake in shares of Rivian Automotive during the first quarter valued at $138,000. GAMMA Investing LLC increased its position in shares of Rivian Automotive by 946.1% in the 1st quarter. GAMMA Investing LLC now owns 93,026 shares of the electric vehicle automaker's stock valued at $1,158,000 after acquiring an additional 84,133 shares during the period. AdvisorNet Financial Inc increased its position in shares of Rivian Automotive by 81.4% in the 1st quarter. AdvisorNet Financial Inc now owns 3,792 shares of the electric vehicle automaker's stock valued at $47,000 after acquiring an additional 1,702 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in Rivian Automotive in the 4th quarter worth $3,198,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN traded down $0.23 during trading hours on Wednesday, reaching $14.14. The stock had a trading volume of 14,995,530 shares, compared to its average volume of 36,129,783. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $18.86. The firm has a 50-day moving average of $13.33 and a 200-day moving average of $12.93. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of -3.00 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.23. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $981.52 million. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. Rivian Automotive's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.48) EPS. Equities research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 9,937 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $15.00, for a total transaction of $149,055.00. Following the completion of the transaction, the chief financial officer now directly owns 851,637 shares in the company, valued at approximately $12,774,555. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was 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 directly owns 853,011 shares in the company, valued at approximately $9,596,373.75. The trade was a 7.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 384,265 shares of company stock valued at $5,201,750. 2.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Cowen started coverage on Rivian Automotive in a research note on Friday, March 7th. They issued a "hold" rating and a $12.70 target price on the stock. Guggenheim restated a "buy" rating and issued a $16.00 price target on shares of Rivian Automotive in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their price target on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus boosted their price objective on Rivian Automotive from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Benchmark reiterated a "buy" rating and set a $18.00 target price on shares of Rivian Automotive in a research report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.33.

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.