International Assets Investment Management LLC Raises Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

International Assets Investment Management LLC raised its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 1,944.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 140,291 shares of the electric vehicle automaker's stock after purchasing an additional 133,428 shares during the quarter. International Assets Investment Management LLC's holdings in Rivian Automotive were worth $3,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System grew its position in shares of Rivian Automotive by 1.7% during the 4th quarter. Arizona State Retirement System now owns 180,905 shares of the electric vehicle automaker's stock worth $4,244,000 after buying an additional 3,011 shares during the period. Trust Point Inc. acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $246,000. True North Advisors LLC grew its position in shares of Rivian Automotive by 41.2% during the 4th quarter. True North Advisors LLC now owns 18,578 shares of the electric vehicle automaker's stock worth $436,000 after buying an additional 5,419 shares during the period. Halpern Financial Inc. acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $47,000. Finally, Gradient Investments LLC grew its position in shares of Rivian Automotive by 72.4% during the 4th quarter. Gradient Investments LLC now owns 2,463 shares of the electric vehicle automaker's stock worth $58,000 after buying an additional 1,034 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on RIVN shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $15.00 price objective on shares of Rivian Automotive in a research report on Tuesday, April 2nd. Mizuho reissued a "neutral" rating and issued a $12.00 price target on shares of Rivian Automotive in a research report on Monday, March 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $23.00 price target on shares of Rivian Automotive in a research report on Wednesday, April 3rd. Needham & Company LLC reduced their price target on shares of Rivian Automotive from $18.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday. Finally, DA Davidson reduced their price target on shares of Rivian Automotive from $19.00 to $17.00 and set a "neutral" rating for the company in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rivian Automotive has a consensus rating of "Moderate Buy" and a consensus target price of $19.70.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now owns 155,749 shares of the company's stock, valued at approximately $2,523,133.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Claire Mcdonough sold 2,946 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now owns 155,749 shares of the company's stock, valued at $2,523,133.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the transaction, the insider now directly owns 407,787 shares of the company's stock, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock valued at $717,274 in the last quarter. 2.30% of the stock is currently owned by corporate insiders.

Rivian Automotive Stock Performance

RIVN traded up $0.09 during trading hours on Thursday, hitting $8.83. The stock had a trading volume of 30,624,671 shares, compared to its average volume of 43,312,605. The company's fifty day simple moving average is $11.71 and its 200 day simple moving average is $16.03. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $28.06. The stock has a market cap of $8.63 billion, a PE ratio of -1.54 and a beta of 1.88. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping the consensus estimate of ($1.67) by $0.09. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. Equities analysts anticipate that Rivian Automotive, Inc. will post -4.8 earnings per share for the current 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.