PKO Investment Management Joint Stock Co Invests $479,000 in Rivian Automotive, Inc. (NASDAQ:RIVN)

PKO Investment Management Joint Stock Co bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,000 shares of the electric vehicle automaker's stock, valued at approximately $479,000.

A number of other institutional investors also recently modified their holdings of RIVN. Brighton Jones LLC raised its position in Rivian Automotive by 28.0% during the fourth 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 in the last quarter. Blue Trust Inc. increased its stake in shares of Rivian Automotive by 68.6% in the 4th quarter. Blue Trust Inc. now owns 7,640 shares of the electric vehicle automaker's stock valued at $102,000 after purchasing an additional 3,109 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in shares of Rivian Automotive by 46.4% during the 4th quarter. SteelPeak Wealth LLC now owns 18,560 shares of the electric vehicle automaker's stock worth $247,000 after buying an additional 5,886 shares in the last quarter. R Squared Ltd bought a new stake in shares of Rivian Automotive during the 4th quarter worth $53,000. Finally, Swedbank AB boosted its stake in Rivian Automotive by 5.6% in the fourth quarter. Swedbank AB now owns 502,644 shares of the electric vehicle automaker's stock valued at $6,685,000 after buying an additional 26,474 shares in the last quarter. Institutional investors own 66.25% of the company's stock.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 17,185 shares of Rivian Automotive stock in a transaction 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 completion of the sale, the chief financial officer now owns 824,875 shares of the company's stock, valued at approximately $12,694,826.25. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now owns 853,011 shares of the company's stock, valued at $9,596,373.75. This trade represents a 7.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 384,265 shares of company stock valued at $5,201,750. Corporate insiders own 2.16% of the company's stock.

Analyst Upgrades and Downgrades

RIVN has been the subject of several research reports. Wedbush dropped their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird dropped their price target on Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Guggenheim reissued a "buy" rating and set a $16.00 price objective on shares of Rivian Automotive in a report on Tuesday, May 6th. UBS Group upped their target price on Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC dropped their target price on Rivian Automotive from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Three equities research 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. Based on data from MarketBeat, Rivian Automotive has a consensus rating of "Hold" and a consensus price target of $14.33.

Rivian Automotive Trading Down 3.7%

RIVN stock traded down $0.56 during mid-day trading on Friday, reaching $14.45. The company's stock had a trading volume of 40,055,298 shares, compared to its average volume of 36,314,045. Rivian Automotive, Inc. has a 12 month low of $9.50 and a 12 month high of $18.86. 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 business's 50 day moving average price is $13.27 and its 200 day moving average price is $12.86. The company has a market cap of $16.34 billion, a price-to-earnings ratio of -3.06 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released 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. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $981.52 million. During the same quarter in the previous year, the business posted ($1.48) EPS. Rivian Automotive's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts predict 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.