NBC Securities Inc. Grows Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

NBC Securities Inc. increased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 107,835.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,206 shares of the electric vehicle automaker's stock after buying an additional 57,153 shares during the period. NBC Securities Inc.'s holdings in Rivian Automotive were worth $712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter worth $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive in the fourth quarter worth $27,000. Orion Capital Management LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter worth $34,000. Bear Mountain Capital Inc. raised its position in shares of Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after buying an additional 1,932 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Rivian Automotive in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 107,144 shares of Rivian Automotive stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $15.25, for a total transaction of $1,633,946.00. Following the sale, the chief executive officer now directly owns 1,483,111 shares of the company's stock, valued at approximately $22,617,442.75. The trade was a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 17,185 shares of Rivian Automotive stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.39, for a total value of $264,477.15. Following the sale, the chief financial officer now directly owns 824,875 shares in the company, valued at approximately $12,694,826.25. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 384,265 shares of company stock valued at $5,201,750. 2.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Friday, April 25th. Robert W. Baird reduced their target price on Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. TD Cowen assumed 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. Stifel Nicolaus increased their target price on Rivian Automotive from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $16.00 target price on shares of Rivian Automotive in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Rivian Automotive has a consensus rating of "Hold" and a consensus target price of $14.33.

Rivian Automotive Stock Down 1.6%

Rivian Automotive stock traded down $0.23 during trading hours on Thursday, hitting $13.78. 34,864,234 shares of the stock traded hands, compared to its average volume of 36,252,258. The firm's 50-day moving average price is $13.39 and its two-hundred day moving average price is $12.96. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company has a market cap of $15.58 billion, a PE ratio of -2.92 and a beta of 1.86. Rivian Automotive, Inc. has a one year low of $9.50 and a one year high of $18.86.

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