Triumph Capital Management Boosts Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Triumph Capital Management boosted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 55.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,684 shares of the electric vehicle automaker's stock after purchasing an additional 20,651 shares during the quarter. Triumph Capital Management's holdings in Rivian Automotive were worth $767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Tandem Financial LLC purchased a new stake in Rivian Automotive during the 4th quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at $27,000. Bear Mountain Capital Inc. raised its holdings in 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 purchasing an additional 1,932 shares in the last quarter. Quarry LP purchased a new position in Rivian Automotive in the fourth quarter worth $38,000. Finally, AllSquare Wealth Management LLC grew its stake in Rivian Automotive by 8,794.1% during the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock worth $40,000 after buying an additional 2,990 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Rivian Automotive from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Wedbush dropped their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Cantor Fitzgerald reiterated a "neutral" rating and set a $15.00 price target on shares of Rivian Automotive in a research note on Wednesday, May 7th. Finally, Bank of America downgraded Rivian Automotive from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Rivian Automotive has an average rating of "Hold" and an average target price of $14.24.

Rivian Automotive Trading Up 3.0%

Rivian Automotive stock traded up $0.48 during trading on Monday, reaching $16.29. 43,821,399 shares of the company were exchanged, compared to its average volume of 36,119,651. The stock's 50 day simple moving average is $12.39 and its two-hundred day simple moving average is $12.53. The company has a market capitalization of $18.42 billion, a P/E ratio of -3.45 and a beta of 1.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 52-week low of $9.50 and a 52-week high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, equities research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the sale, the chief executive officer now directly owns 853,011 shares of the company's stock, valued at approximately $9,596,373.75. The trade was a 7.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 9,937 shares of Rivian Automotive stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $15.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 195,364 shares of company stock valued at $2,303,960 over the last ninety days. Company insiders own 2.16% of the company's stock.

About Rivian Automotive

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.