SG Americas Securities LLC Buys 54,053 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

SG Americas Securities LLC grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,775 shares of the electric vehicle automaker's stock after purchasing an additional 54,053 shares during the quarter. SG Americas Securities LLC's holdings in Rivian Automotive were worth $2,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RIVN. John G Ullman & Associates Inc. grew its holdings in Rivian Automotive by 9.1% in the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker's stock valued at $135,000 after buying an additional 1,000 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. Tradition Wealth Management LLC grew its stake in shares of Rivian Automotive by 11.9% in the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker's stock worth $132,000 after acquiring an additional 1,250 shares during the last quarter. Regal Investment Advisors LLC increased its position in Rivian Automotive by 7.0% during the second quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker's stock worth $262,000 after acquiring an additional 1,281 shares during the period. Finally, Blue Trust Inc. raised its stake in Rivian Automotive by 40.3% during the 3rd quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker's stock valued at $51,000 after purchasing an additional 1,301 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Trading Up 0.6 %

Shares of RIVN traded up $0.08 on Monday, reaching $12.85. 32,217,865 shares of the company's stock were exchanged, compared to its average volume of 42,467,383. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85. The stock has a market capitalization of $13.12 billion, a P/E ratio of -2.29 and a beta of 2.05. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The business has a 50 day moving average price of $13.25 and a two-hundred day moving average price of $12.94.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company's stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at $9,712,811.25. This represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 363,142 shares of company stock worth $4,958,860. Insiders own 2.51% of the company's stock.

Wall Street Analyst Weigh In

RIVN has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Barclays boosted their price target on Rivian Automotive from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 22nd. Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, November 8th. Mizuho decreased their price objective on Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, UBS Group upped their target price on Rivian Automotive from $11.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Rivian Automotive presently has an average rating of "Hold" and a consensus target price of $15.52.

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.