10,030 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by HCR Wealth Advisors

HCR Wealth Advisors acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,030 shares of the electric vehicle automaker’s stock, valued at approximately $133,000.

A number of other hedge funds also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive during the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. lifted its position 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 worth $29,000 after acquiring an additional 1,002 shares during the last quarter. American Capital Advisory LLC boosted its holdings 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 worth $33,000 after acquiring an additional 2,111 shares during the period. Hantz Financial Services Inc. grew its position in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Rivian Automotive during the third quarter worth approximately $44,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RIVN. Wells Fargo & Company decreased their price objective on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. The Goldman Sachs Group upped their price target on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Truist Financial lifted their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research note on Thursday. Canaccord Genuity Group decreased their target price on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Finally, Piper Sandler lowered their target price on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.48.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,429 shares of company stock worth $4,467,450. Insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $14.44 on Friday. The company’s 50 day moving average price is $12.89 and its two-hundred day moving average price is $13.07. The firm has a market capitalization of $14.74 billion, a P/E ratio of -2.58 and a beta of 2.05. 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 debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

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.