Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC boosted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 95.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 187,987 shares of the electric vehicle automaker's stock after acquiring an additional 91,800 shares during the period. Gryphon Financial Partners LLC's holdings in Rivian Automotive were worth $2,500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tandem Financial LLC purchased a new position in Rivian Automotive in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive in the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive during the third quarter worth approximately $28,000. American Capital Advisory LLC raised its stake in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock valued at $33,000 after purchasing an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after purchasing an additional 2,900 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $13.88, for a total transaction of $991,434.52. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at $11,983,450.68. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,357 shares of company stock worth $3,988,140. Company insiders own 2.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on RIVN shares. Cantor Fitzgerald downgraded shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $13.00 to $15.00 in a report on Friday, February 21st. Royal Bank of Canada reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Mizuho upped their target price on Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, February 21st. UBS Group lifted their price target on Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Rivian Automotive currently has a consensus rating of "Hold" and an average price target of $14.87.

Rivian Automotive Stock Down 3.4 %

Shares of NASDAQ:RIVN traded down $0.39 during trading on Thursday, hitting $11.03. The company's stock had a trading volume of 22,947,669 shares, compared to its average volume of 38,278,668. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.86. The business has a 50 day moving average price of $13.17 and a two-hundred day moving average price of $12.39. 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 company has a market capitalization of $12.47 billion, a PE ratio of -2.34 and a beta of 2.04.

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

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.