Sloy Dahl & Holst LLC Purchases Shares of 442,192 Rivian Automotive, Inc. (NASDAQ:RIVN)

Sloy Dahl & Holst LLC bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 442,192 shares of the electric vehicle automaker's stock, valued at approximately $10,374,000. Rivian Automotive comprises 2.1% of Sloy Dahl & Holst LLC's portfolio, making the stock its 4th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Rivian Automotive by 0.6% during the third quarter. Vanguard Group Inc. now owns 63,845,364 shares of the electric vehicle automaker's stock worth $1,550,165,000 after acquiring an additional 408,677 shares during the last quarter. BlackRock Inc. lifted its position in Rivian Automotive by 2.9% during the first quarter. BlackRock Inc. now owns 50,903,971 shares of the electric vehicle automaker's stock valued at $787,993,000 after purchasing an additional 1,443,514 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in Rivian Automotive during the fourth quarter valued at $228,175,000. State Street Corp lifted its position in Rivian Automotive by 22.6% during the second quarter. State Street Corp now owns 11,704,572 shares of the electric vehicle automaker's stock valued at $194,998,000 after purchasing an additional 2,156,922 shares during the last quarter. Finally, Morgan Stanley lifted its position in Rivian Automotive by 14.0% during the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker's stock valued at $235,409,000 after purchasing an additional 1,193,650 shares during the last quarter. Institutional investors own 66.25% of the company's stock.

Analyst Ratings Changes

RIVN has been the subject of several research reports. Mizuho reiterated a "neutral" rating and set a $12.00 price objective on shares of Rivian Automotive in a research report on Monday, March 25th. Wells Fargo & Company lowered their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Thursday, February 22nd. Evercore ISI lowered their price objective on shares of Rivian Automotive from $35.00 to $25.00 and set an "outperform" rating for the company in a research report on Thursday, February 22nd. JPMorgan Chase & Co. lowered shares of Rivian Automotive from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $20.00 to $11.00 in a report on Thursday, February 22nd. Finally, Wolfe Research restated a "peer perform" rating on shares of Rivian Automotive in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Rivian Automotive presently has a consensus rating of "Moderate Buy" and an average target price of $19.91.

Rivian Automotive Stock Up 0.3 %

Shares of NASDAQ:RIVN traded up $0.03 during trading on Wednesday, reaching $8.74. The stock had a trading volume of 32,517,644 shares, compared to its average volume of 43,480,043. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The company has a market capitalization of $8.54 billion, a P/E ratio of -1.52 and a beta of 1.88. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $11.85 and its 200 day simple moving average is $16.08.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping analysts' consensus estimates of ($1.67) by $0.09. The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. As a group, research analysts expect that Rivian Automotive, Inc. will post -4.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the sale, the insider now directly owns 407,787 shares in the company, valued at approximately $5,223,751.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares of the company's stock, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares of the company's stock, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock worth $717,274 in the last three months. Corporate insiders own 2.30% 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.