Capital International Investors Invests $144.03 Million in Rivian Automotive, Inc. (NASDAQ:RIVN)

Capital International Investors bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,829,346 shares of the electric vehicle automaker's stock, valued at approximately $144,030,000. Capital International Investors owned about 1.06% of Rivian Automotive as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RIVN. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter worth $25,000. Bank of Jackson Hole Trust purchased a new position in Rivian Automotive during the 4th quarter valued at about $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive in the third quarter worth about $28,000. Bear Mountain Capital Inc. boosted its position in shares of Rivian Automotive by 208.0% in the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after acquiring an additional 1,932 shares during the period. Finally, AllSquare Wealth Management LLC increased its holdings in Rivian Automotive by 8,794.1% during 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 during the period. Hedge funds and other institutional investors own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of recent analyst reports. Robert W. Baird reduced their price target on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald downgraded Rivian Automotive from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $13.00 to $15.00 in a research report on Friday, February 21st. Guggenheim lowered their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, February 24th. Cowen initiated coverage on shares of Rivian Automotive in a research note on Thursday, March 6th. They issued a "hold" rating for the company. Finally, TD Cowen started coverage on shares of Rivian Automotive in a report on Friday, March 7th. They set a "hold" rating and a $12.70 price objective for the company. Three investment 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $14.17.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business'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 transaction, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The stock was 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. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock valued at $2,237,044 in the last ninety days. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Stock Down 3.9 %

Shares of RIVN stock traded down $0.45 during midday trading on Monday, reaching $11.15. 24,591,109 shares of the stock were exchanged, compared to its average volume of 36,610,815. The firm has a market cap of $12.61 billion, a PE ratio of -2.36 and a beta of 1.89. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company's 50 day moving average is $11.89 and its two-hundred day moving average is $12.09. Rivian Automotive, Inc. has a 1 year low of $8.32 and a 1 year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its 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 firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. On average, equities research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

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.