Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by Two Sigma Securities LLC

Two Sigma Securities LLC grew its stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 170.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,636 shares of the electric vehicle automaker's stock after buying an additional 38,224 shares during the quarter. Two Sigma Securities LLC's holdings in Rivian Automotive were worth $806,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RIVN. Virtu Financial LLC purchased a new position in shares of Rivian Automotive in the third quarter valued at about $4,184,000. Sanctuary Advisors LLC boosted its stake in Rivian Automotive by 9.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 44,675 shares of the electric vehicle automaker's stock worth $457,000 after purchasing an additional 3,681 shares during the period. World Investment Advisors LLC boosted its stake in Rivian Automotive by 8.6% in the 3rd quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker's stock worth $204,000 after purchasing an additional 1,446 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Rivian Automotive during the 3rd quarter valued at approximately $28,000. Finally, Tidal Investments LLC raised its position in shares of Rivian Automotive by 28.8% during the third quarter. Tidal Investments LLC now owns 268,952 shares of the electric vehicle automaker's stock valued at $3,018,000 after buying an additional 60,205 shares during the last quarter. Institutional investors own 66.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RIVN shares. Truist Financial raised their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Barclays boosted their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut their price target on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Cowen assumed coverage on Rivian Automotive in a research report on Thursday, March 6th. They set a "hold" rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $14.08.

Rivian Automotive Trading Down 1.3 %

Shares of NASDAQ RIVN traded down $0.17 during trading hours on Wednesday, reaching $13.13. The stock had a trading volume of 20,815,210 shares, compared to its average volume of 36,406,124. The business's fifty day moving average price is $11.69 and its two-hundred day moving average price is $12.16. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of -2.78 and a beta of 1.89. Rivian Automotive, Inc. has a 52-week low of $8.84 and a 52-week high of $18.86. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its 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. The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now owns 853,011 shares of the company's stock, valued at $9,596,373.75. This trade represents a 7.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,427 shares of company stock worth $2,154,905. 2.51% of the stock is owned by corporate insiders.

Rivian Automotive 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.