Bank of Jackson Hole Trust Buys Shares of 2,053 Rivian Automotive, Inc. (NASDAQ:RIVN)

Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,053 shares of the electric vehicle automaker’s stock, valued at approximately $27,000.

A number of other hedge funds have also added to or reduced their stakes in RIVN. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive in the 4th quarter worth $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rivian Automotive in the 3rd quarter worth $28,000. GHP Investment Advisors Inc. increased its stake in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 1,002 shares in the last quarter. American Capital Advisory LLC increased its stake in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after purchasing an additional 2,111 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RIVN has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Friday, November 8th. Robert W. Baird reiterated a “neutral” rating and issued a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Piper Sandler cut their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, The Goldman Sachs Group increased their price target on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction dated 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 owns 335,076 shares of the company’s stock, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 366,788 shares of company stock valued at $5,024,431 over the last 90 days. Insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Down 2.3 %

Shares of NASDAQ:RIVN opened at $13.61 on Friday. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85. The company has a 50-day moving average price of $13.59 and a 200 day moving average price of $12.54. The company has a market cap of $13.89 billion, a price-to-earnings ratio of -2.43 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 121.38% and a negative return on equity of 72.78%. As a group, equities research analysts predict that Rivian Automotive, Inc. will post -4.7 earnings per share for the current year.

Rivian Automotive 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.