Empowered Funds LLC Purchases 31,096 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Empowered Funds LLC grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 168.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,562 shares of the electric vehicle automaker's stock after purchasing an additional 31,096 shares during the period. Empowered Funds LLC's holdings in Rivian Automotive were worth $659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RIVN. Tandem Financial LLC bought a new position in Rivian Automotive in the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new position in Rivian Automotive in the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. grew its position in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC grew its position in Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock worth $33,000 after purchasing an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its position in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock worth $34,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 66.25% of the company's stock.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,097 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $12.20, for a total value of $98,783.40. Following the transaction, the chief financial officer now owns 370,401 shares in the company, valued at approximately $4,518,892.20. This represents a 2.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 366,788 shares of company stock worth $5,024,431. 2.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday. Benchmark assumed coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They issued a "buy" rating and a $18.00 price target for the company. Piper Sandler reduced their price target on shares of Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. Wedbush reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $15.50.

Rivian Automotive Trading Down 4.7 %

Shares of RIVN stock traded down $0.64 during trading hours on Friday, reaching $12.97. 70,276,674 shares of the stock traded hands, compared to its average volume of 34,649,051. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85. The business has a fifty day moving average price of $13.59 and a 200 day moving average price of $12.54. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $13.24 billion, a PE ratio of -2.32 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative net margin of 121.38% and a negative return on equity of 72.78%. On average, equities research analysts forecast that Rivian Automotive, Inc. will post -4.7 EPS for the current year.

About Rivian Automotive

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.