Two Sigma Securities LLC Has $806,000 Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Two Sigma Securities LLC raised its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 170.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 60,636 shares of the electric vehicle automaker's stock after buying an additional 38,224 shares during the quarter. Two Sigma Securities LLC's holdings in Rivian Automotive were worth $806,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RIVN. Geode Capital Management LLC grew its stake in shares of Rivian Automotive by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 13,227,560 shares of the electric vehicle automaker's stock worth $175,639,000 after purchasing an additional 227,168 shares during the period. Capital International Investors purchased a new position in Rivian Automotive in the fourth quarter valued at about $144,030,000. Norges Bank purchased a new position in Rivian Automotive in the fourth quarter valued at about $123,308,000. Charles Schwab Investment Management Inc. lifted its position in shares of Rivian Automotive by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock valued at $63,055,000 after acquiring an additional 133,781 shares during the period. Finally, Groupama Asset Managment acquired a new stake in shares of Rivian Automotive in the 4th quarter worth approximately $26,600,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

Insider Activity

In related news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $11.46, for a total value of $409,270.98. Following the transaction, the chief executive officer now owns 853,011 shares of the company's stock, valued at approximately $9,775,506.06. This trade represents a 4.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares of the company's stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,427 shares of company stock worth $2,154,905. Corporate insiders own 2.51% of the company's stock.

Rivian Automotive Price Performance

NASDAQ RIVN traded up $0.53 on Friday, reaching $12.62. 24,445,614 shares of the stock traded hands, compared to its average volume of 36,524,350. Rivian Automotive, Inc. has a 12 month low of $8.84 and a 12 month high of $18.86. The company has a market cap of $14.27 billion, a price-to-earnings ratio of -2.67 and a beta of 1.89. The firm's fifty day simple moving average is $11.71 and its 200 day simple moving average is $12.13. 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 (NASDAQ:RIVN - Get Free Report) last announced its earnings results 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 business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RIVN has been the topic of a number of research analyst reports. Needham & Company LLC boosted their target price on Rivian Automotive from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group dropped their price objective on Rivian Automotive from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Rivian Automotive in a report on Tuesday, March 18th. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They issued an "underperform" rating and a $6.10 target price on the stock. Finally, Cantor Fitzgerald cut Rivian Automotive from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Friday, February 21st. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.