SRS Capital Advisors Inc. Acquires 6,312 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

SRS Capital Advisors Inc. grew its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 309.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,352 shares of the electric vehicle automaker’s stock after purchasing an additional 6,312 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Rivian Automotive were worth $111,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RIVN. International Assets Investment Management LLC grew its stake 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 worth $608,000 after acquiring an additional 51,464 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Rivian Automotive by 150.2% in the third quarter. Farther Finance Advisors LLC now owns 15,588 shares of the electric vehicle automaker’s stock valued at $175,000 after purchasing an additional 9,357 shares during the period. Van ECK Associates Corp grew its stake in Rivian Automotive by 31.0% in the third quarter. Van ECK Associates Corp now owns 372,093 shares of the electric vehicle automaker’s stock worth $4,175,000 after purchasing an additional 88,047 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Rivian Automotive by 1,090.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 169,384 shares of the electric vehicle automaker’s stock worth $1,900,000 after purchasing an additional 155,150 shares during the period. Finally, Forum Financial Management LP raised its position in Rivian Automotive by 18.8% during the 3rd quarter. Forum Financial Management LP now owns 21,251 shares of the electric vehicle automaker’s stock valued at $238,000 after purchasing an additional 3,366 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Stock Performance

RIVN opened at $11.42 on Thursday. The firm’s 50-day moving average price is $13.22 and its 200-day moving average price is $12.40. The company has a market cap of $12.91 billion, a P/E ratio of -2.42 and a beta of 2.04. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,357 shares of company stock valued at $3,988,140 in the last ninety days. Company insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of recent research reports. UBS Group increased their price target on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Piper Sandler dropped 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. Baird R W lowered shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Truist Financial upped their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Stifel Nicolaus cut their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.87.

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.