APG Asset Management N.V. Buys Shares of 393,000 Rivian Automotive, Inc. (NASDAQ:RIVN)

APG Asset Management N.V. purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 393,000 shares of the electric vehicle automaker's stock, valued at approximately $5,048,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in Rivian Automotive by 6.0% in the third quarter. The Manufacturers Life Insurance Company now owns 76,651 shares of the electric vehicle automaker's stock worth $860,000 after purchasing an additional 4,338 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Rivian Automotive by 19.4% in the 3rd quarter. Captrust Financial Advisors now owns 41,474 shares of the electric vehicle automaker's stock valued at $465,000 after buying an additional 6,738 shares during the period. Janus Henderson Group PLC grew its position in shares of Rivian Automotive by 107.6% during the 3rd quarter. Janus Henderson Group PLC now owns 86,241 shares of the electric vehicle automaker's stock valued at $968,000 after buying an additional 44,700 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in Rivian Automotive during the third quarter worth about $183,000. Finally, EP Wealth Advisors LLC bought a new position in Rivian Automotive in the third quarter worth about $129,000. 66.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, April 7th. The shares were 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 directly owns 853,011 shares in the company, valued at approximately $9,596,373.75. This trade represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,427 shares of company stock worth $2,237,044. Company insiders own 2.51% of the company's stock.

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Rivian Automotive Stock Down 1.6 %

Shares of RIVN traded down $0.19 during midday trading on Tuesday, reaching $11.84. 13,759,085 shares of the stock were exchanged, compared to its average volume of 36,892,524. 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 company has a market cap of $13.38 billion, a price-to-earnings ratio of -2.50 and a beta of 1.89. The firm has a 50 day simple moving average of $11.97 and a 200-day simple moving average of $12.06. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.43 billion. Research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of research reports. Benchmark reiterated a "buy" rating and set a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Bank of America downgraded shares of Rivian Automotive from a "neutral" rating to an "underperform" rating and reduced their price target for the company from $13.00 to $10.00 in a report on Monday, February 24th. Barclays increased their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 22nd. Robert W. Baird reduced their target price on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Baird R W lowered shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $14.17.

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.