Susquehanna Fundamental Investments LLC Invests $11.43 Million in Rivian Automotive, Inc. (NASDAQ:RIVN)

Susquehanna Fundamental Investments LLC bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 859,726 shares of the electric vehicle automaker's stock, valued at approximately $11,434,000. Susquehanna Fundamental Investments LLC owned approximately 0.08% of Rivian Automotive as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RIVN. Tandem Financial LLC purchased a new stake in Rivian Automotive in the 4th quarter valued at approximately $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive in the third quarter valued at approximately $28,000. Bear Mountain Capital Inc. grew its holdings in Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker's stock worth $36,000 after acquiring an additional 1,932 shares during the period. Finally, AllSquare Wealth Management LLC raised its position in Rivian Automotive by 8,794.1% in 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. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Claire Mcdonough sold 6,856 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was 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 the SEC website. Also, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $11.46, for a total transaction of $409,270.98. Following the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,775,506.06. This represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,427 shares of company stock valued at $2,154,905 in the last 90 days. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Stock Up 4.4 %

RIVN stock opened at $12.62 on Friday. The company has a 50 day moving average price of $11.71 and a two-hundred day moving average price of $12.12. 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 stock has a market capitalization of $14.27 billion, a P/E ratio of -2.67 and a beta of 1.89. Rivian Automotive, Inc. has a one year low of $8.84 and a one year high of $18.86.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts' consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Mizuho lowered their price target on shares of Rivian Automotive from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of Rivian Automotive from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Friday. Robert W. Baird dropped their target price on shares of Rivian Automotive from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Sanford C. Bernstein began coverage on Rivian Automotive in a research note on Wednesday, January 29th. They set an "underperform" rating and a $6.10 price target on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $14.08.

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.

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