International Assets Investment Management LLC Acquires 133,428 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

International Assets Investment Management LLC increased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 1,944.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,291 shares of the electric vehicle automaker's stock after acquiring 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.

A number of other institutional investors have also modified their holdings of the business. Raymond James & Associates boosted its position in shares of Rivian Automotive by 1.2% during the 3rd quarter. Raymond James & Associates now owns 239,852 shares of the electric vehicle automaker's stock worth $5,824,000 after purchasing an additional 2,947 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Rivian Automotive by 22.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 271,029 shares of the electric vehicle automaker's stock valued at $6,581,000 after acquiring an additional 49,373 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Rivian Automotive in the 3rd quarter valued at about $288,000. Bank of New York Mellon Corp lifted its holdings in Rivian Automotive by 15.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,116,848 shares of the electric vehicle automaker's stock valued at $51,397,000 after purchasing an additional 277,522 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Rivian Automotive in the 3rd quarter valued at about $298,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the transaction, the insider now owns 407,787 shares of the company's stock, valued at $5,223,751.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the firm's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now directly owns 407,787 shares in the company, valued at $5,223,751.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the sale, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock valued at $717,274 over the last 90 days. 2.30% of the stock is owned by company insiders.

Rivian Automotive Stock Down 2.3 %

Shares of RIVN stock traded down $0.23 during mid-day trading on Friday, reaching $9.99. 32,543,759 shares of the company were exchanged, compared to its average volume of 42,349,260. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $28.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.90 and a current ratio of 4.71. The company has a market capitalization of $9.76 billion, a P/E ratio of -1.73 and a beta of 1.91. The business's 50 day simple moving average is $10.30 and its 200 day simple moving average is $14.90.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping analysts' consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Research analysts predict that Rivian Automotive, Inc. will post -4.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RIVN. Cantor Fitzgerald reduced their target price on shares of Rivian Automotive from $23.00 to $15.00 and set an "overweight" rating on the stock in a report on Wednesday. UBS Group upgraded shares of Rivian Automotive from a "sell" rating to a "neutral" rating and set a $9.00 price objective on the stock in a report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $15.00 price objective on shares of Rivian Automotive in a report on Tuesday, April 2nd. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Rivian Automotive in a report on Wednesday. Finally, Wells Fargo & Company cut their price objective on shares of Rivian Automotive from $14.00 to $10.00 and set an "equal weight" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Rivian Automotive has an average rating of "Moderate Buy" and a consensus target price of $19.00.

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.