DnB Asset Management AS Purchases 81,337 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

DnB Asset Management AS raised its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 19.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,642 shares of the electric vehicle automaker’s stock after buying an additional 81,337 shares during the quarter. DnB Asset Management AS’s holdings in Rivian Automotive were worth $6,712,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RIVN. Tandem Financial LLC purchased a new position in shares of Rivian Automotive in the fourth quarter valued at $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Rivian Automotive in the 4th quarter worth $27,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive in the 3rd quarter worth about $28,000. Hantz Financial Services Inc. raised its position in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after buying an additional 2,900 shares in the last quarter. Finally, Bear Mountain Capital Inc. lifted its holdings in shares of Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after acquiring an additional 1,932 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,879,847.36. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the company’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 transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock valued at $2,588,475 in the last 90 days. Insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RIVN. Guggenheim decreased their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. UBS Group increased their price target on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Sanford C. Bernstein began coverage on shares of Rivian Automotive in a research note on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price objective for the company. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Rivian Automotive in a research note on Tuesday, March 18th. Finally, Truist Financial lifted their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.38.

Rivian Automotive Stock Down 4.7 %

Rivian Automotive stock opened at $12.41 on Monday. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market cap of $14.03 billion, a P/E ratio of -2.63 and a beta of 2.03. The business has a fifty day moving average of $12.26 and a two-hundred day moving average of $12.12. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last issued 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. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. On average, analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

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.