Pictet Asset Management Holding SA Has $5.32 Million Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Pictet Asset Management Holding SA grew its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 399,591 shares of the electric vehicle automaker's stock after buying an additional 66,969 shares during the quarter. Pictet Asset Management Holding SA's holdings in Rivian Automotive were worth $5,315,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in Rivian Automotive during the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the 3rd quarter worth approximately $28,000. Bear Mountain Capital Inc. lifted its holdings in Rivian Automotive by 208.0% during the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after buying an additional 1,932 shares during the last quarter. Finally, AllSquare Wealth Management LLC grew its position in shares of Rivian Automotive by 8,794.1% in the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock worth $40,000 after acquiring an additional 2,990 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN remained flat at $11.21 during mid-day trading on Monday. 40,377,803 shares of the company were exchanged, compared to its average volume of 37,232,524. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of -2.37 and a beta of 1.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.86. The company has a fifty day moving average of $12.14 and a two-hundred day moving average of $12.07.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on RIVN. Sanford C. Bernstein began coverage on Rivian Automotive in a research note on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price objective on the stock. Robert W. Baird restated a "neutral" rating and issued a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Baird R W downgraded shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Truist Financial raised their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a report on Thursday, January 16th. Finally, Barclays lifted their target price 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. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $14.38.

Insiders Place Their Bets

In related news, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value 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. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $11.82, for a total transaction of $844,290.78. Following the sale, the chief executive officer now directly owns 853,011 shares of the company's stock, valued at approximately $10,082,590.02. This represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,998 shares of company stock worth $1,433,468. 2.51% of the stock is owned by corporate insiders.

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.