Vident Advisory LLC Buys 35,695 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Vident Advisory LLC increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,114 shares of the electric vehicle automaker's stock after acquiring an additional 35,695 shares during the period. Vident Advisory LLC's holdings in Rivian Automotive were worth $1,425,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Rivian Automotive by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock valued at $63,055,000 after buying an additional 133,781 shares during the last quarter. Twinbeech Capital LP purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $29,944,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $1,363,000. Groupama Asset Managment purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $26,600,000. Finally, SG Americas Securities LLC grew its holdings in shares of Rivian Automotive by 42.7% during 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 buying an additional 54,053 shares during the last quarter. Institutional investors own 66.25% of the company's stock.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 107,144 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $15.25, for a total value of $1,633,946.00. Following the completion of the sale, the chief executive officer now owns 1,483,111 shares in the company, valued at approximately $22,617,442.75. This trade represents a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 17,185 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.39, for a total transaction 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 $12,694,826.25. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 384,265 shares of company stock worth $5,201,750. 2.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on RIVN. Cantor Fitzgerald reiterated a "neutral" rating and set a $15.00 price target on shares of Rivian Automotive in a report on Wednesday, May 7th. UBS Group increased their price objective on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Guggenheim restated a "buy" rating and set a $16.00 price objective on shares of Rivian Automotive in a research report on Tuesday, May 6th. Bank of America downgraded shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and decreased their price target for the stock from $13.00 to $10.00 in a research report on Monday, February 24th. Finally, TD Cowen began coverage on shares of Rivian Automotive in a research report on Friday, March 7th. They issued a "hold" rating and a $12.70 price target on the stock. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.33.

Rivian Automotive Price Performance

Shares of NASDAQ:RIVN traded down $0.41 on Tuesday, reaching $15.22. The company's stock had a trading volume of 15,377,261 shares, compared to its average volume of 36,245,450. Rivian Automotive, Inc. has a 52-week low of $9.50 and a 52-week high of $18.86. The company has a market cap of $17.20 billion, a P/E ratio of -3.22 and a beta of 1.86. The company has a 50-day simple moving average of $13.00 and a 200 day simple moving average of $12.77. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.23. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $981.52 million. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.48) EPS. As a group, equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Rivian Automotive 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.