Entropy Technologies LP acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 98,995 shares of the electric vehicle automaker's stock, valued at approximately $1,317,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Tandem Financial LLC acquired a new position in Rivian Automotive in the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive in the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. increased its holdings in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after purchasing an additional 1,002 shares in the last quarter. American Capital Advisory LLC increased its holdings in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock worth $33,000 after purchasing an additional 2,111 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock worth $34,000 after purchasing an additional 2,900 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CEO Robert J. Scaringe sold 83,334 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $9,712,811.25. This trade represents a 8.80 % 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 hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 363,142 shares of company stock worth $4,958,860. Corporate insiders own 2.51% of the company's stock.
Rivian Automotive Stock Up 5.5 %
NASDAQ:RIVN traded up $0.73 on Friday, hitting $14.03. The stock had a trading volume of 33,856,768 shares, compared to its average volume of 32,867,168. The business's fifty day moving average is $13.59 and its 200 day moving average is $12.58. The company has a market cap of $14.32 billion, a PE ratio of -2.51 and a beta of 2.04. 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, Inc. has a 52 week low of $8.26 and a 52 week high of $18.85.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating for the company in a report on Tuesday, October 22nd. UBS Group upped their target price on Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Barclays upped their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 22nd. Piper Sandler decreased their price target on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. Finally, Stifel Nicolaus decreased their price target on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $15.13.
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About Rivian Automotive
(
Free Report)
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.
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