26,830 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Bought by Symmetry Investments LP

Symmetry Investments LP bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 26,830 shares of the electric vehicle automaker's stock, valued at approximately $357,000.

Several other institutional investors have also modified their holdings of the stock. Quantessence Capital LLC purchased a new stake in Rivian Automotive in the fourth quarter valued at $150,000. Hsbc Holdings PLC boosted its holdings in Rivian Automotive by 6.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,233,406 shares of the electric vehicle automaker's stock valued at $16,608,000 after purchasing an additional 76,509 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Rivian Automotive by 36.1% in the fourth quarter. OneDigital Investment Advisors LLC now owns 16,406 shares of the electric vehicle automaker's stock valued at $218,000 after buying an additional 4,353 shares during the last quarter. Tradition Wealth Management LLC grew its stake in shares of Rivian Automotive by 7.2% in the 4th quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker's stock valued at $168,000 after purchasing an additional 849 shares during the last quarter. Finally, Natixis lifted its holdings in Rivian Automotive by 22.1% in the fourth quarter. Natixis now owns 17,331 shares of the electric vehicle automaker's stock valued at $231,000 after acquiring an additional 3,135 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of analyst reports. TD Cowen initiated coverage on Rivian Automotive in a report on Friday, March 7th. They issued a "hold" rating and a $12.70 price target for the company. Wells Fargo & Company boosted their price target on Rivian Automotive from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Friday, February 21st. Truist Financial boosted their price target on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Bank of America downgraded Rivian Automotive from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $13.00 to $10.00 in a research report on Monday, February 24th. Finally, Cantor Fitzgerald downgraded Rivian Automotive from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $13.00 to $15.00 in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Rivian Automotive has a consensus rating of "Hold" and a consensus price target of $14.08.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $11.46, for a total value of $409,270.98. Following the sale, the chief executive officer now owns 853,011 shares of the company's stock, valued at $9,775,506.06. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the firm'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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock worth $2,154,905 in the last three months. Insiders own 2.51% of the company's stock.

Rivian Automotive Stock Performance

RIVN traded up $0.53 during trading on Friday, reaching $12.62. 24,445,614 shares of the company's stock were exchanged, compared to its average volume of 36,491,157. 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 business has a 50 day moving average price of $11.71 and a 200 day moving average price of $12.11. The company has a market capitalization of $14.27 billion, a P/E ratio of -2.67 and a beta of 1.89. Rivian Automotive, Inc. has a fifty-two week low of $8.50 and a fifty-two week 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) earnings per share for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

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.