Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by Sagefield Capital LP

Sagefield Capital LP grew its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 121.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 129,326 shares of the electric vehicle automaker's stock after buying an additional 70,840 shares during the quarter. Sagefield Capital LP's holdings in Rivian Automotive were worth $1,720,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Siemens Fonds Invest GmbH purchased a new position in shares of Rivian Automotive in the 4th quarter valued at about $145,000. Soma Equity Partners LP increased its holdings in shares of Rivian Automotive by 19.9% in the 4th quarter. Soma Equity Partners LP now owns 8,486,109 shares of the electric vehicle automaker's stock valued at $112,865,000 after purchasing an additional 1,407,772 shares in the last quarter. Quantinno Capital Management LP increased its holdings in Rivian Automotive by 146.4% during the 4th quarter. Quantinno Capital Management LP now owns 40,197 shares of the electric vehicle automaker's stock valued at $535,000 after acquiring an additional 23,886 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Rivian Automotive by 1.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 91,300 shares of the electric vehicle automaker's stock valued at $1,246,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Rivian Automotive by 26.8% during the 4th quarter. Nuveen Asset Management LLC now owns 2,847,211 shares of the electric vehicle automaker's stock valued at $37,868,000 after acquiring an additional 602,210 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.

Insider Activity

In related news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 853,011 shares of the company's stock, valued at $9,596,373.75. The trade was a 7.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 391,121 shares of company stock valued at $5,299,517. 2.16% of the stock is currently owned by company insiders.

Rivian Automotive Stock Performance

RIVN stock traded up $0.48 during trading on Monday, hitting $16.29. 43,821,399 shares of the company's stock traded hands, compared to its average volume of 36,119,893. Rivian Automotive, Inc. has a 52 week low of $9.50 and a 52 week high of $18.86. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of -3.45 and a beta of 1.86. 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 stock has a fifty day moving average price of $12.49 and a two-hundred day moving average price of $12.57.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.43 billion. As a group, equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on RIVN. Guggenheim restated a "buy" rating and set a $16.00 target price on shares of Rivian Automotive in a report on Tuesday, May 6th. Bank of America downgraded Rivian Automotive from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $13.00 to $10.00 in a research report on Monday, February 24th. Stifel Nicolaus lifted their price objective on Rivian Automotive from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Benchmark reaffirmed a "buy" rating and set a $18.00 price target on shares of Rivian Automotive in a research note on Tuesday, March 18th. Finally, UBS Group raised their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.24.

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.