28,466 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by Polymer Capital Management US LLC

Polymer Capital Management US LLC purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,466 shares of the electric vehicle automaker's stock, valued at approximately $379,000.

Other institutional investors have also recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Rivian Automotive in the 4th quarter worth $117,000. Resona Asset Management Co. Ltd. acquired a new position in Rivian Automotive during the fourth quarter worth $3,003,000. Groupama Asset Managment bought a new position in shares of Rivian Automotive in the fourth quarter valued at $26,600,000. Geode Capital Management LLC grew its holdings in shares of Rivian Automotive by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 13,227,560 shares of the electric vehicle automaker's stock valued at $175,639,000 after buying an additional 227,168 shares during the last quarter. Finally, Trans Canada Capital Inc. bought a new stake in shares of Rivian Automotive during the fourth quarter worth about $5,778,000. Institutional investors and hedge funds own 66.25% of the company's stock.

Insider Buying and Selling

In other news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive 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 transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. This trade 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 is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $11.82, for a total value of $844,290.78. Following the transaction, the chief executive officer now directly owns 853,011 shares of the company's stock, valued at approximately $10,082,590.02. This trade represents 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 over the last ninety days. Company insiders own 2.51% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RIVN. UBS Group cut their price target on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday. The Goldman Sachs Group cut their target price on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday. Guggenheim decreased their price target on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a report on Monday, February 24th. Truist Financial raised their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Finally, Piper Sandler lowered shares of Rivian Automotive from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $19.00 to $13.00 in a research note on Thursday, March 20th. 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 stock. According to MarketBeat, Rivian Automotive has an average rating of "Hold" and an average target price of $14.25.

Rivian Automotive Trading Down 1.8 %

NASDAQ:RIVN traded down $0.21 during midday trading on Friday, reaching $11.25. 12,960,987 shares of the stock traded hands, compared to its average volume of 37,235,010. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.86. The stock has a market capitalization of $12.72 billion, a P/E ratio of -2.38 and a beta of 1.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The company has a fifty day moving average of $12.02 and a 200 day moving average of $12.05.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.43 billion. On average, research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

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.