Quantinno Capital Management LP Acquires 23,886 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Quantinno Capital Management LP raised its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 146.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 40,197 shares of the electric vehicle automaker's stock after purchasing an additional 23,886 shares during the quarter. Quantinno Capital Management LP's holdings in Rivian Automotive were worth $535,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in Rivian Automotive by 21.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 59,385 shares of the electric vehicle automaker's stock valued at $790,000 after acquiring an additional 10,408 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Rivian Automotive by 42.7% in the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock valued at $2,404,000 after purchasing an additional 54,053 shares in the last quarter. Brighton Jones LLC raised its stake 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 valued at $235,000 after purchasing an additional 3,864 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in Rivian Automotive in the fourth quarter worth $133,000. Finally, Blue Trust Inc. boosted its stake in Rivian Automotive by 68.6% during the fourth quarter. Blue Trust Inc. now owns 7,640 shares of the electric vehicle automaker's stock worth $102,000 after buying an additional 3,109 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RIVN. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price target for the company. Guggenheim reiterated a "buy" rating and issued a $16.00 price target on shares of Rivian Automotive in a research report on Tuesday, May 6th. Wedbush reduced their price target on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Needham & Company LLC cut their target price on shares of Rivian Automotive from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.33.

Rivian Automotive Stock Up 0.8%

Shares of Rivian Automotive stock traded up $0.12 on Wednesday, hitting $15.49. The company had a trading volume of 7,377,570 shares, compared to its average volume of 36,213,736. Rivian Automotive, Inc. has a twelve month low of $9.50 and a twelve month high of $18.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock has a 50-day moving average of $13.09 and a 200-day moving average of $12.79. The firm has a market capitalization of $17.52 billion, a P/E ratio of -3.29 and a beta of 1.86.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.80) by $0.23. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $981.52 million. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Rivian Automotive's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned ($1.48) earnings per share. Research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 9,937 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 of the company's stock, valued at approximately $12,774,555. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at $10,082,590.02. This trade represents a 7.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 384,265 shares of company stock valued at $5,201,750 in the last ninety days. 2.16% of the stock is currently owned by corporate insiders.

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.