Nebula Research & Development LLC Takes $714,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Nebula Research & Development LLC bought a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 53,711 shares of the electric vehicle automaker's stock, valued at approximately $714,000.

Other institutional investors also recently modified their holdings of the company. Tradition Wealth Management LLC boosted its position in Rivian Automotive by 7.2% during the fourth quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock valued at $168,000 after purchasing an additional 849 shares during the last quarter. RFG Holdings Inc. boosted its holdings in shares of Rivian Automotive by 5.2% in the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock valued at $296,000 after buying an additional 1,096 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Rivian Automotive by 4.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock valued at $354,000 after buying an additional 1,160 shares in the last quarter. Freestone Capital Holdings LLC increased its holdings in Rivian Automotive by 4.1% during the fourth quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock worth $390,000 after buying an additional 1,164 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in Rivian Automotive by 8.3% during the fourth quarter. Advisory Services Network LLC now owns 17,158 shares of the electric vehicle automaker's stock worth $228,000 after acquiring an additional 1,314 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 25th. Barclays boosted their price target on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald downgraded shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $13.00 to $15.00 in a report on Friday, February 21st. Piper Sandler cut Rivian Automotive from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $19.00 to $13.00 in a report on Thursday, March 20th. Finally, Needham & Company LLC boosted their price target on Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $14.08.

Insider Activity

In related news, CEO Robert J. Scaringe sold 35,713 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $11.46, for a total transaction of $409,270.98. Following the completion of the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at approximately $9,775,506.06. The trade was a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the company'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 transaction of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,427 shares of company stock worth $2,154,905. 2.51% of the stock is owned by corporate insiders.

Rivian Automotive Stock Performance

RIVN traded up $0.36 during trading hours on Wednesday, hitting $13.66. The stock had a trading volume of 48,687,099 shares, compared to its average volume of 36,511,917. The stock has a market cap of $15.45 billion, a PE ratio of -2.89 and a beta of 1.89. Rivian Automotive, Inc. has a 1 year low of $8.84 and a 1 year high of $18.86. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The company's fifty day simple moving average is $11.70 and its 200 day simple moving average is $12.17.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. Equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

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.