Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,233,406 shares of the electric vehicle automaker's stock after buying an additional 76,509 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Rivian Automotive worth $16,608,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIVN. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust purchased a new stake in Rivian Automotive during the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Rivian Automotive during the 3rd quarter worth $28,000. Bear Mountain Capital Inc. lifted its holdings in Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after buying an additional 1,932 shares in the last quarter. Finally, AllSquare Wealth Management LLC boosted its position 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 buying an additional 2,990 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $11.46, for a total value 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 $9,775,506.06. This trade represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction that occurred 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 directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,427 shares of company stock valued at $2,154,905. Company insiders own 2.51% of the company's stock.

Rivian Automotive Stock Performance

NASDAQ RIVN traded up $0.53 on Friday, hitting $12.62. The stock had a trading volume of 24,445,614 shares, compared to its average volume of 36,524,350. The company's 50-day moving average is $11.71 and its two-hundred day moving average is $12.13. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of -2.67 and a beta of 1.89. 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, Inc. has a one year low of $8.84 and a one year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted 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. 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 analysts' expectations of $1.43 billion. On average, analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RIVN shares. Mizuho dropped their target price on Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Guggenheim dropped 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. 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 target price for the company. Truist Financial raised their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Finally, Barclays increased their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.08.

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.