Stevens Capital Management LP Purchases 147,340 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Stevens Capital Management LP lifted its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 1,007.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 161,970 shares of the electric vehicle automaker's stock after acquiring an additional 147,340 shares during the quarter. Rivian Automotive makes up about 0.9% of Stevens Capital Management LP's holdings, making the stock its 16th biggest holding. Stevens Capital Management LP's holdings in Rivian Automotive were worth $3,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIVN. Bear Mountain Capital Inc. acquired a new position in shares of Rivian Automotive in the 4th quarter valued at about $26,000. Ancora Advisors LLC acquired a new position in Rivian Automotive in the 3rd quarter valued at approximately $27,000. MCF Advisors LLC lifted its position in Rivian Automotive by 396.8% in the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker's stock worth $30,000 after buying an additional 1,000 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Rivian Automotive by 1,537.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker's stock valued at $32,000 after buying an additional 1,245 shares during the period. Finally, Arlington Trust Co LLC purchased a new position in shares of Rivian Automotive during the 4th quarter valued at $35,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rivian Automotive

In other news, insider Kjell Gruner sold 19,935 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now 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 can be accessed through the SEC website. In other news, insider Kjell Gruner sold 19,935 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the sale, the chief accounting officer now owns 52,415 shares of the company's stock, valued at $690,829.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,306 shares of company stock valued at $717,274. Corporate insiders own 2.30% of the company's stock.

Rivian Automotive Stock Performance

NASDAQ RIVN traded up $0.52 during midday trading on Friday, hitting $9.04. The company had a trading volume of 28,075,226 shares, compared to its average volume of 42,329,055. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $10.98 and a two-hundred day simple moving average of $15.60. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $28.06. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of -1.57 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.28 billion. Equities analysts forecast that Rivian Automotive, Inc. will post -4.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RIVN. DA Davidson cut their price objective on Rivian Automotive from $19.00 to $17.00 and set a "neutral" rating for the company in a report on Thursday, February 22nd. Barclays lowered their price target on Rivian Automotive from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, April 19th. Robert W. Baird cut their price objective on shares of Rivian Automotive from $30.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their target price on shares of Rivian Automotive from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, February 26th. Finally, Bank of America cut their price target on shares of Rivian Automotive from $40.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.61.

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.