Commerce Bank Has $530,000 Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Commerce Bank lessened its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 35.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,878 shares of the electric vehicle automaker's stock after selling 22,134 shares during the quarter. Commerce Bank's holdings in Rivian Automotive were worth $530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIVN. Tandem Financial LLC acquired a new position in shares of Rivian Automotive during the 4th quarter worth about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive in the fourth quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive during the third quarter worth $28,000. Bear Mountain Capital Inc. raised its stake in Rivian Automotive by 208.0% during the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock valued at $36,000 after purchasing an additional 1,932 shares during the last quarter. Finally, AllSquare Wealth Management LLC boosted its holdings in Rivian Automotive by 8,794.1% in the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker's stock valued at $40,000 after purchasing an additional 2,990 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.

Analyst Ratings Changes

RIVN has been the subject of a number of research analyst reports. Benchmark reaffirmed a "buy" rating and set a $18.00 price objective on shares of Rivian Automotive in a research report on Tuesday, March 18th. Needham & Company LLC raised their price objective on Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Truist Financial boosted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Guggenheim reduced their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, Sanford C. Bernstein assumed coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 price target on the stock. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $14.17.

Rivian Automotive Stock Up 3.9 %

Shares of NASDAQ:RIVN opened at $11.80 on Thursday. Rivian Automotive, Inc. has a 12 month low of $8.46 and a 12 month high of $18.86. 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's 50-day moving average price is $11.78 and its two-hundred day moving average price is $12.08. The firm has a market cap of $13.35 billion, a P/E ratio of -2.50 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS 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 firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the business'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 transaction of $97,766.56. Following the completion of the sale, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $11.46, for a total transaction of $409,270.98. Following the completion of the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,775,506.06. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,427 shares of company stock worth $2,154,905. Company 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.

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