SBI Securities Co. Ltd. Makes New $1.38 Million Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

SBI Securities Co. Ltd. acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 103,937 shares of the electric vehicle automaker's stock, valued at approximately $1,382,000.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in shares of Rivian Automotive by 91.1% during the 4th quarter. Jones Financial Companies Lllp now owns 25,202 shares of the electric vehicle automaker's stock worth $335,000 after purchasing an additional 12,014 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Rivian Automotive by 309.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 8,352 shares of the electric vehicle automaker's stock valued at $111,000 after purchasing an additional 6,312 shares during the last quarter. Metis Global Partners LLC boosted its position in Rivian Automotive by 6.9% during the fourth quarter. Metis Global Partners LLC now owns 123,086 shares of the electric vehicle automaker's stock worth $1,637,000 after purchasing an additional 7,922 shares during the period. Versor Investments LP bought a new stake in shares of Rivian Automotive during the 4th quarter worth about $298,000. Finally, Proficio Capital Partners LLC bought a new position in Rivian Automotive in the 4th quarter valued at about $487,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company's stock, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total value of $975,005.85. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,357 shares of company stock worth $3,988,140. Insiders own 2.51% of the company's stock.

Rivian Automotive Trading Up 1.4 %

Shares of RIVN stock traded up $0.16 during mid-day trading on Wednesday, reaching $11.42. 19,002,011 shares of the stock traded hands, compared to its average volume of 38,341,775. The stock's fifty day simple moving average is $13.22 and its two-hundred day simple moving average is $12.40. The company has a market cap of $12.91 billion, a price-to-earnings ratio of -2.42 and a beta of 2.04. Rivian Automotive, Inc. has a 1-year low of $8.26 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.

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

Wall Street Analyst Weigh In

RIVN has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Needham & Company LLC raised their price target on shares of Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Benchmark began coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a "buy" rating and a $18.00 target price on the stock. Bank of America downgraded shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $13.00 to $10.00 in a research report on Monday, February 24th. Finally, Robert W. Baird reissued a "neutral" rating and set a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $14.87.

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.