Global Retirement Partners LLC Increases Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Global Retirement Partners LLC grew its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 29.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,341 shares of the electric vehicle automaker’s stock after purchasing an additional 5,731 shares during the quarter. Global Retirement Partners LLC’s holdings in Rivian Automotive were worth $337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after buying an additional 2,035,831 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Rivian Automotive by 1,870.7% in the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after buying an additional 51,464 shares in the last quarter. Mizuho Markets Americas LLC increased its stake in shares of Rivian Automotive by 30.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after acquiring an additional 124,950 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Rivian Automotive by 42.7% during the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock worth $2,404,000 after acquiring an additional 54,053 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Rivian Automotive during the 4th quarter valued at about $1,317,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Trading Down 7.8 %

NASDAQ:RIVN opened at $11.96 on Tuesday. The stock has a fifty day moving average price of $13.49 and a 200 day moving average price of $12.48. 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 firm has a market cap of $12.21 billion, a PE ratio of -2.53 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion during 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%. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,784,877.65. This represents a 7.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,357 shares of company stock worth $3,988,140 in the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird restated a “neutral” rating and set a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday. Needham & Company LLC upped their price objective on Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their price target on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.87.

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.