Achmea Investment Management B.V. Has $2.88 Million Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Achmea Investment Management B.V. boosted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 852.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,201 shares of the electric vehicle automaker's stock after acquiring an additional 193,511 shares during the quarter. Achmea Investment Management B.V.'s holdings in Rivian Automotive were worth $2,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in Rivian Automotive by 11.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,766,747 shares of the electric vehicle automaker's stock valued at $19,823,000 after purchasing an additional 181,155 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Rivian Automotive in the third quarter valued at about $501,000. Oppenheimer & Co. Inc. raised its holdings in shares of Rivian Automotive by 59.0% in the third quarter. Oppenheimer & Co. Inc. now owns 25,451 shares of the electric vehicle automaker's stock valued at $286,000 after buying an additional 9,441 shares during the last quarter. Metis Global Partners LLC lifted its position in Rivian Automotive by 11.8% during the 3rd quarter. Metis Global Partners LLC now owns 115,164 shares of the electric vehicle automaker's stock worth $1,292,000 after buying an additional 12,166 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Rivian Automotive by 59.1% during the 3rd quarter. Empowered Funds LLC now owns 18,466 shares of the electric vehicle automaker's stock worth $207,000 after acquiring an additional 6,860 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RIVN shares. Bank of America lowered shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $13.00 to $10.00 in a research report on Monday, February 24th. Guggenheim reduced their price objective on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, February 24th. TD Cowen assumed coverage on Rivian Automotive in a research note on Friday, March 7th. They issued a "hold" rating and a $12.70 target price for the company. Sanford C. Bernstein initiated coverage on Rivian Automotive in a research note on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Rivian Automotive presently has a consensus rating of "Hold" and an average price target of $14.64.

Rivian Automotive Stock Performance

NASDAQ RIVN traded up $0.18 during trading on Tuesday, reaching $11.20. The company's stock had a trading volume of 32,656,310 shares, compared to its average volume of 36,973,447. The firm has a 50 day moving average price of $12.65 and a 200 day moving average price of $12.23. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of -2.37 and a beta of 2.03. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month 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, topping the consensus estimate of ($0.69) by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the company's 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 sale, the chief financial officer now owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $13.88, for a total value of $991,434.52. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at approximately $11,983,450.68. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock worth $2,735,619 over the last ninety days. Insiders own 2.51% of the company's stock.

About Rivian Automotive

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.