Hsbc Holdings PLC Has $16.61 Million Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Hsbc Holdings PLC grew its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,233,406 shares of the electric vehicle automaker's stock after buying an additional 76,509 shares during the period. Hsbc Holdings PLC owned 0.12% of Rivian Automotive worth $16,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RIVN. Tradition Wealth Management LLC lifted its stake in Rivian Automotive by 7.2% during the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock valued at $168,000 after purchasing an additional 849 shares during the last quarter. RFG Holdings Inc. increased its holdings in shares of Rivian Automotive by 5.2% in the fourth quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock valued at $296,000 after buying an additional 1,096 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Rivian Automotive by 4.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock valued at $354,000 after buying an additional 1,160 shares in the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Rivian Automotive by 4.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock valued at $390,000 after acquiring an additional 1,164 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Rivian Automotive by 8.3% during the 4th quarter. Advisory Services Network LLC now owns 17,158 shares of the electric vehicle automaker's stock worth $228,000 after acquiring an additional 1,314 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock traded down $0.06 during trading on Wednesday, reaching $13.24. The company's stock had a trading volume of 14,509,510 shares, compared to its average volume of 36,383,838. The business's fifty day moving average price is $11.69 and its 200-day moving average price is $12.16. Rivian Automotive, Inc. has a one year low of $8.84 and a one year high of $18.86. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of -2.79 and a beta of 1.89. 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 issued its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates 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, equities research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Cantor Fitzgerald downgraded Rivian Automotive from an "overweight" rating to a "neutral" rating and upped their target price for the company from $13.00 to $15.00 in a report on Friday, February 21st. TD Cowen began coverage on shares of Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 target price for the company. Truist Financial lifted their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Guggenheim decreased their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Finally, Barclays boosted their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.08.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive 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 approximately $4,778,183.76. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 853,011 shares in the company, valued at approximately $9,596,373.75. This represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock valued at $2,154,905 in the last ninety days. Company insiders own 2.51% of the company's stock.

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.