Valueworks LLC Has $16.47 Million Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Valueworks LLC increased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,238,315 shares of the electric vehicle automaker's stock after acquiring an additional 180,860 shares during the period. Rivian Automotive comprises approximately 5.5% of Valueworks LLC's portfolio, making the stock its 5th biggest holding. Valueworks LLC owned about 0.12% of Rivian Automotive worth $16,470,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Dimension Capital Management LLC grew its stake in shares of Rivian Automotive by 5.5% in the 4th quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker's stock valued at $208,000 after buying an additional 819 shares in the last quarter. Tradition Wealth Management LLC increased its position in Rivian Automotive by 7.2% in the 4th quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock worth $168,000 after buying an additional 849 shares during the period. RFG Holdings Inc. increased its position in Rivian Automotive by 5.2% in the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock worth $296,000 after buying an additional 1,096 shares during the period. Oppenheimer & Co. Inc. increased its position in Rivian Automotive by 4.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock worth $354,000 after buying an additional 1,160 shares during the period. Finally, Freestone Capital Holdings LLC increased its position in Rivian Automotive by 4.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock worth $390,000 after buying an additional 1,164 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.

Wall Street Analyst Weigh In

RIVN has been the subject of a number of recent research reports. Piper Sandler upped their target price on Rivian Automotive from $13.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday. Jefferies Financial Group restated a "hold" rating and set a $16.00 target price on shares of Rivian Automotive in a research report on Wednesday, May 14th. Barclays boosted their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 22nd. Mizuho raised their price target on Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, TD Cowen assumed coverage on Rivian Automotive in a research note on Friday, March 7th. They set a "hold" rating and a $12.70 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rivian Automotive currently has a consensus rating of "Hold" and a consensus target price of $14.33.

Rivian Automotive Stock Down 2.6%

RIVN traded down $0.43 on Thursday, hitting $15.91. 28,082,087 shares of the company were exchanged, compared to its average volume of 36,343,911. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock's fifty day moving average is $12.73 and its 200-day moving average is $12.63. The company has a market cap of $17.99 billion, a PE ratio of -3.37 and a beta of 1.86. Rivian Automotive, Inc. has a 12 month low of $9.50 and a 12 month high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced 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. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $981.52 million. During the same quarter in the prior year, the business posted ($1.48) EPS. The business's revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at $9,596,373.75. The trade was a 7.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 9,937 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total value of $149,055.00. Following the transaction, the chief financial officer now directly owns 851,637 shares in the company, valued at approximately $12,774,555. This trade represents a 1.15% decrease in their position. The disclosure for this sale can be found here. Over 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.

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.