Ieq Capital LLC Boosts Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Ieq Capital LLC lifted its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,585 shares of the electric vehicle automaker’s stock after buying an additional 6,344 shares during the period. Ieq Capital LLC’s holdings in Rivian Automotive were worth $1,351,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Tandem Financial LLC purchased a new position in shares of Rivian Automotive during the fourth quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new position in Rivian Automotive in the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive in the 3rd quarter worth $28,000. GHP Investment Advisors Inc. lifted its stake in Rivian Automotive by 63.2% in the third 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 during the last quarter. Finally, American Capital Advisory LLC boosted its position in 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 buying an additional 2,111 shares during the period. Institutional investors own 66.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Truist Financial boosted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Baird R W lowered Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, Bank of America cut shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $13.00 to $10.00 in a research report on Monday. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.87.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $11.96 on Tuesday. The company has a 50 day simple moving average of $13.49 and a two-hundred day simple moving average of $12.48. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.85. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of -2.53 and a beta of 2.04. 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) last posted its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share 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 company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $13.88, for a total value of $991,434.52. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,983,450.68. The trade was a 7.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction 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 sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $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. Insiders sold a total of 275,357 shares of company stock valued at $3,988,140 in the last quarter. 2.51% of the stock is owned by insiders.

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.