Aire Advisors LLC Takes Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Aire Advisors LLC bought a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,081 shares of the electric vehicle automaker’s stock, valued at approximately $134,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Rivian Automotive by 59.1% in the third quarter. Empowered Funds LLC now owns 18,466 shares of the electric vehicle automaker’s stock worth $207,000 after purchasing an additional 6,860 shares during the last quarter. Quest Partners LLC increased its stake in Rivian Automotive by 109.0% in the 3rd quarter. Quest Partners LLC now owns 13,945 shares of the electric vehicle automaker’s stock worth $156,000 after acquiring an additional 7,273 shares during the last quarter. Pathstone Holdings LLC raised its holdings in shares of Rivian Automotive by 8.4% during the 3rd quarter. Pathstone Holdings LLC now owns 118,237 shares of the electric vehicle automaker’s stock worth $1,327,000 after acquiring an additional 9,187 shares in the last quarter. Commerce Bank raised its holdings in shares of Rivian Automotive by 52.7% during the 3rd quarter. Commerce Bank now owns 62,012 shares of the electric vehicle automaker’s stock worth $696,000 after acquiring an additional 21,391 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Rivian Automotive during the 3rd quarter valued at approximately $570,000. 66.25% of the stock is currently owned by institutional investors.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total transaction of $491,410.88. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,879,847.36. The trade was a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,998 shares of company stock valued at $1,744,184 in the last ninety days. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Stock Up 5.1 %

Shares of RIVN stock opened at $12.19 on Tuesday. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $18.86. The stock has a market cap of $13.78 billion, a P/E ratio of -2.58 and a beta of 2.03. The stock has a 50 day moving average of $12.38 and a 200 day moving average of $12.15. 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 (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. As a group, sell-side analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of recent research reports. Piper Sandler downgraded shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $13.00 in a research note on Thursday, March 20th. Mizuho lowered their price objective on Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. 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. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 18th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $16.00 target price (down previously from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and an average target price of $14.38.

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.