Swiss National Bank Has $28.19 Million Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Swiss National Bank cut its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,119,600 shares of the electric vehicle automaker's stock after selling 78,700 shares during the quarter. Swiss National Bank owned 0.21% of Rivian Automotive worth $28,191,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Rivian Automotive by 79.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker's stock worth $51,693,000 after purchasing an additional 2,035,831 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Rivian Automotive during the 4th quarter valued at $9,432,000. Alberta Investment Management Corp purchased a new stake in Rivian Automotive during the fourth quarter worth approximately $6,648,000. Virtu Financial LLC purchased a new stake in shares of Rivian Automotive during the 3rd quarter valued at about $4,184,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $4,929,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird reaffirmed a "neutral" rating and set a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Truist Financial increased their price target on Rivian Automotive from $12.00 to $14.00 and gave the company a "hold" rating in a research note on Thursday, January 16th. Needham & Company LLC boosted their price target on shares of Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. TD Cowen began coverage on shares of Rivian Automotive in a research report on Friday, March 7th. They set a "hold" rating and a $12.70 price objective for the company. Finally, Baird R W lowered shares of Rivian Automotive from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Rivian Automotive has an average rating of "Hold" and a consensus price target of $14.38.

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Rivian Automotive Price Performance

NASDAQ RIVN traded up $0.72 during trading on Friday, reaching $11.60. 36,483,896 shares of the company traded hands, compared to its average volume of 36,918,391. The stock's 50 day moving average price is $12.45 and its two-hundred day moving average price is $12.19. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.86. The company has a market cap of $13.12 billion, a price-to-earnings ratio of -2.46 and a beta of 2.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Activity at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company's stock, valued at $13,960,547.37. The trade was a 7.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,427 shares of company stock worth $2,735,619. 2.51% of the stock is owned by insiders.

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.