56,107 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by LaSalle St. Investment Advisors LLC

LaSalle St. Investment Advisors LLC bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 56,107 shares of the electric vehicle automaker's stock, valued at approximately $746,000.

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

Rivian Automotive Stock Up 4.9 %

Shares of RIVN traded up $0.56 during mid-day trading on Monday, hitting $12.03. The company's stock had a trading volume of 26,824,185 shares, compared to its average volume of 36,978,365. 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 company's 50-day moving average is $11.97 and its 200-day moving average is $12.06. 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 $13.60 billion, a price-to-earnings ratio of -2.55 and a beta of 1.89.

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Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly 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 net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, equities research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were 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 of the company's stock, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $11.82, for a total transaction of $844,290.78. Following the sale, the chief executive officer now directly owns 853,011 shares in the company, valued at $10,082,590.02. The trade was a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock valued at $2,237,044 in the last ninety days. Company insiders own 2.51% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on RIVN shares. The Goldman Sachs Group reduced their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday. Needham & Company LLC raised their price objective on Rivian Automotive from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Sanford C. Bernstein started coverage on Rivian Automotive in a research report on Wednesday, January 29th. They set an "underperform" rating and a $6.10 target price on the stock. Baird R W cut Rivian Automotive from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Finally, Guggenheim decreased their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.25.

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.