Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 28.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 268,952 shares of the electric vehicle automaker's stock after acquiring an additional 60,205 shares during the period. Tidal Investments LLC's holdings in Rivian Automotive were worth $3,018,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Rivian Automotive during the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. raised its stake in Rivian Automotive by 63.2% during 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. International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive during the 2nd quarter worth approximately $37,000. First Horizon Advisors Inc. boosted its position in shares of Rivian Automotive by 30.7% during the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker's stock worth $38,000 after buying an additional 670 shares during the period. Finally, American Capital Advisory LLC increased its stake in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker's stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, November 11th. Mizuho cut their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Royal Bank of Canada lowered their price objective on Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating for the company in a research note on Tuesday, October 22nd. Finally, Benchmark began coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They issued a "buy" rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.83.

Rivian Automotive Trading Up 1.2 %

Shares of RIVN traded up $0.17 during trading hours on Friday, hitting $14.37. The company had a trading volume of 32,045,961 shares, compared to its average volume of 43,474,268. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $24.61. The firm has a market cap of $14.67 billion, a P/E ratio of -2.57 and a beta of 2.12. The stock's 50 day moving average price is $11.08 and its 200 day moving average price is $12.68.

Insider Buying and Selling at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,334 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total value of $937,507.50. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 8,097 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the transaction, the chief financial officer now directly owns 370,401 shares in the company, valued at $4,518,892.20. The trade was a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,974 shares of company stock valued at $2,038,483. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Company 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.