Korea Investment CORP lessened its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 32.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,802 shares of the electric vehicle automaker's stock after selling 174,996 shares during the period. Korea Investment CORP's holdings in Rivian Automotive were worth $4,529,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RIVN. Brighton Jones LLC boosted its stake in Rivian Automotive by 28.0% during the 4th quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock valued at $235,000 after purchasing an additional 3,864 shares during the last quarter. Natixis boosted its stake in Rivian Automotive by 22.1% during the 4th quarter. Natixis now owns 17,331 shares of the electric vehicle automaker's stock valued at $231,000 after purchasing an additional 3,135 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in Rivian Automotive by 36.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 16,406 shares of the electric vehicle automaker's stock valued at $218,000 after purchasing an additional 4,353 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Rivian Automotive by 6.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,233,406 shares of the electric vehicle automaker's stock valued at $16,608,000 after purchasing an additional 76,509 shares during the last quarter. Finally, Nebula Research & Development LLC purchased a new stake in Rivian Automotive during the 4th quarter valued at $714,000. Institutional investors own 66.25% of the company's stock.
Insider Buying and Selling
In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $12.28, for a total transaction of $88,993.16. Following the sale, the chief financial officer directly owned 789,445 shares of the company's stock, valued at $9,694,384.60. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.16% of the stock is currently owned by corporate insiders.
Rivian Automotive Price Performance
NASDAQ RIVN opened at $13.09 on Friday. The company has a market capitalization of $15.88 billion, a PE ratio of -4.05 and a beta of 1.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.72 and a current ratio of 3.44. The business's fifty day moving average is $13.01 and its 200 day moving average is $12.94. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $17.15.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.27 billion. Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. Rivian Automotive's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.46) earnings per share. Sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have commented on RIVN. Mizuho increased their target price on Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Guggenheim downgraded Rivian Automotive from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Piper Sandler raised their price target on Rivian Automotive from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Wedbush dropped their price target on Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $15.00 price target on shares of Rivian Automotive in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.69.
Check Out Our Latest Report on Rivian Automotive
Rivian Automotive Profile
(
Free Report)
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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