Krane Funds Advisors LLC Has $2.53 Million Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Krane Funds Advisors LLC decreased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,529 shares of the electric vehicle automaker's stock after selling 35,004 shares during the period. Rivian Automotive accounts for approximately 0.1% of Krane Funds Advisors LLC's portfolio, making the stock its 21st biggest position. Krane Funds Advisors LLC's holdings in Rivian Automotive were worth $2,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RFG Holdings Inc. raised its stake in shares of Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker's stock worth $296,000 after purchasing an additional 1,096 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Rivian Automotive by 4.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker's stock valued at $354,000 after acquiring an additional 1,160 shares in the last quarter. Freestone Capital Holdings LLC lifted its stake in Rivian Automotive by 4.1% in the fourth quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker's stock valued at $390,000 after acquiring an additional 1,164 shares during the last quarter. World Investment Advisors LLC grew its position in Rivian Automotive by 8.6% in the third quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker's stock worth $204,000 after acquiring an additional 1,446 shares in the last quarter. Finally, First Pacific Financial increased its stake in shares of Rivian Automotive by 4.1% during the 4th quarter. First Pacific Financial now owns 37,189 shares of the electric vehicle automaker's stock worth $495,000 after purchasing an additional 1,449 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company's stock.

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Rivian Automotive Stock Performance

RIVN traded down $0.18 on Friday, hitting $11.28. 13,422,420 shares of the stock traded hands, compared to its average volume of 37,237,006. The business has a fifty day moving average price of $12.02 and a two-hundred day moving average price of $12.05. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.86. The firm has a market capitalization of $12.76 billion, a PE ratio of -2.38 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results 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. The business 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%. On average, research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RIVN has been the subject of several analyst reports. Barclays lifted 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. Benchmark reiterated a "buy" rating and set a $18.00 price target on shares of Rivian Automotive in a research note on Tuesday, March 18th. Mizuho cut their price objective on Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday. Robert W. Baird restated a "neutral" rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Finally, Cowen began coverage on Rivian Automotive in a report on Thursday, March 6th. They set a "hold" rating on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Rivian Automotive has a consensus rating of "Hold" and an average price target of $14.25.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total transaction of $491,410.88. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company's stock, valued at $11,879,847.36. This trade represents a 3.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,427 shares of company stock valued at $2,237,044 in the last 90 days. 2.51% of the stock is currently owned by company insiders.

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.