Gryphon Financial Partners LLC Boosts Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Gryphon Financial Partners LLC increased its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 95.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,987 shares of the electric vehicle automaker's stock after buying an additional 91,800 shares during the quarter. Gryphon Financial Partners LLC's holdings in Rivian Automotive were worth $2,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in RIVN. Baillie Gifford & Co. increased its stake in shares of Rivian Automotive by 52.5% in the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker's stock valued at $565,012,000 after buying an additional 17,341,786 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker's stock valued at $51,693,000 after acquiring an additional 2,035,831 shares during the last quarter. Alberta Investment Management Corp bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $6,648,000. Virtu Financial LLC bought a new stake in Rivian Automotive in the third quarter valued at approximately $4,184,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Rivian Automotive in the fourth quarter valued at approximately $4,036,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total transaction of $491,410.88. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,879,847.36. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,357 shares of company stock worth $3,988,140 in the last ninety days. Company insiders own 2.51% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Stifel Nicolaus reduced their target price on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, November 11th. Guggenheim cut their price target on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Mizuho increased their price target on Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, February 21st. UBS Group increased their price target on Rivian Automotive from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, Robert W. Baird restated a "neutral" rating and set a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.87.

Rivian Automotive Stock Up 1.4 %

NASDAQ RIVN traded up $0.16 on Wednesday, reaching $11.42. The company had a trading volume of 19,002,011 shares, compared to its average volume of 38,341,796. The stock has a market capitalization of $12.91 billion, a P/E ratio of -2.42 and a beta of 2.04. The company's fifty day moving average is $13.22 and its 200 day moving average is $12.40. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week 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.

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, beating the consensus estimate of ($0.69) by $0.06. The firm 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%. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Rivian Automotive 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.