Asset Management One Co. Ltd. Grows Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Asset Management One Co. Ltd. lifted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 294,468 shares of the electric vehicle automaker's stock after acquiring an additional 34,948 shares during the period. Asset Management One Co. Ltd.'s holdings in Rivian Automotive were worth $4,019,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tandem Financial LLC acquired a new stake in Rivian Automotive during the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new stake in Rivian Automotive in the 3rd quarter valued at $28,000. GHP Investment Advisors Inc. lifted its stake in Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock valued at $29,000 after acquiring an additional 1,002 shares in the last quarter. American Capital Advisory LLC lifted its stake in Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock valued at $33,000 after acquiring an additional 2,111 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after acquiring an additional 2,900 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on RIVN shares. Benchmark initiated coverage on Rivian Automotive in a report on Monday, December 9th. They set a "buy" rating and a $18.00 price objective for the company. Royal Bank of Canada reduced their price target on Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Robert W. Baird reissued a "neutral" rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Wedbush reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Rivian Automotive in a research report on Friday, November 8th. Finally, Stifel Nicolaus decreased their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $15.50.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $13,960,547.37. This represents a 7.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Claire Mcdonough sold 18,501 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total value of $277,515.00. Following the sale, the chief financial officer now directly owns 351,900 shares of the company's stock, valued at $5,278,500. This represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,788 shares of company stock valued at $5,024,431. 2.51% of the stock is owned by insiders.

Rivian Automotive Trading Down 4.1 %

Shares of RIVN traded down $0.56 during trading hours on Friday, hitting $13.05. 58,251,877 shares of the stock traded hands, compared to its average volume of 34,251,285. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85. The business has a fifty day moving average of $13.59 and a 200-day moving average of $12.54. 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 firm has a market capitalization of $13.32 billion, a PE ratio of -2.33 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 72.78% and a negative net margin of 121.38%. Analysts expect that Rivian Automotive, Inc. will post -4.7 EPS for the current year.

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.