Strategic Financial Concepts LLC bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 41,789 shares of the electric vehicle automaker's stock, valued at approximately $556,000.
Other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive in the third quarter valued at approximately $28,000. GHP Investment Advisors Inc. boosted 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 valued at $29,000 after buying an additional 1,002 shares in the last quarter. American Capital Advisory LLC boosted its stake in shares of Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock valued at $33,000 after buying an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after buying an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Rivian Automotive in the third quarter valued at approximately $44,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on RIVN shares. The Goldman Sachs Group lifted their price target on Rivian Automotive from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Benchmark began coverage on Rivian Automotive in a research report on Monday, December 9th. They set a "buy" rating and a $18.00 target price on the stock. Barclays boosted their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 22nd. Robert W. Baird reiterated a "neutral" rating and set a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Finally, Piper Sandler decreased their target price on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $15.13.
Check Out Our Latest Stock Report on Rivian Automotive
Rivian Automotive Trading Up 5.5 %
Rivian Automotive stock traded up $0.73 during trading on Friday, hitting $14.03. The company's stock had a trading volume of 33,856,768 shares, compared to its average volume of 27,819,302. The stock has a market capitalization of $14.32 billion, a price-to-earnings ratio of -2.51 and a beta of 2.04. The stock's fifty day moving average is $13.59 and its 200 day moving average is $12.56. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.
Insider Activity at Rivian Automotive
In other Rivian Automotive 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 transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.17, for a total value of $1,155,006.93. Following the sale, the chief executive officer now owns 863,361 shares of the company's stock, valued at $13,960,547.37. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 363,142 shares of company stock worth $4,958,860. 2.51% of the stock is currently owned by insiders.
About Rivian Automotive
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Free Report)
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.
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