LaSalle St. Investment Advisors LLC Makes New $746,000 Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

LaSalle St. Investment Advisors LLC acquired a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 56,107 shares of the electric vehicle automaker's stock, valued at approximately $746,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Rivian Automotive by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock worth $63,055,000 after acquiring an additional 133,781 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $1,363,000. Groupama Asset Managment acquired a new position in shares of Rivian Automotive during the fourth quarter worth approximately $26,600,000. SG Americas Securities LLC grew its holdings in Rivian Automotive by 42.7% in the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker's stock worth $2,404,000 after buying an additional 54,053 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Rivian Automotive in the 4th quarter valued at approximately $10,448,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Rivian Automotive Stock Performance

RIVN stock traded up $0.06 on Thursday, reaching $11.55. 10,000,239 shares of the company were exchanged, compared to its average volume of 36,557,678. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a market capitalization of $13.05 billion, a PE ratio of -2.45 and a beta of 1.89. The stock's fifty day moving average price is $11.94 and its 200 day moving average price is $12.06. Rivian Automotive, Inc. has a 12 month low of $8.32 and a 12 month high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating 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%. On average, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $11.25, for a total transaction 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. This represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 185,427 shares of company stock valued at $2,237,044. Company insiders own 2.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RIVN. Baird R W cut Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Cowen assumed coverage on shares of Rivian Automotive in a research note on Thursday, March 6th. They set a "hold" rating on the stock. Barclays boosted their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group decreased their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, UBS Group dropped their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.17.

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.