International Assets Investment Management LLC Increases Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

International Assets Investment Management LLC grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 1,944.2% during the 4th quarter, Holdings Channel reports. The fund owned 140,291 shares of the electric vehicle automaker’s stock after buying an additional 133,428 shares during the quarter. International Assets Investment Management LLC’s holdings in Rivian Automotive were worth $3,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. boosted its holdings in Rivian Automotive by 195.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,475 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 975 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Rivian Automotive in the 3rd quarter valued at approximately $27,000. MCF Advisors LLC boosted its stake in shares of Rivian Automotive by 396.8% in the third quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock valued at $30,000 after buying an additional 1,000 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in Rivian Automotive during the fourth quarter worth $30,000. Finally, First Horizon Advisors Inc. raised its position in Rivian Automotive by 1,537.0% in the third quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after acquiring an additional 1,245 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Trading Up 0.3 %

NASDAQ RIVN opened at $8.74 on Thursday. The company has a market cap of $8.54 billion, a P/E ratio of -1.52 and a beta of 1.88. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $28.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90. The company has a 50-day moving average of $11.85 and a 200-day moving average of $16.08.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping the consensus estimate of ($1.67) by $0.09. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. As a group, equities analysts predict that Rivian Automotive, Inc. will post -4.8 earnings per share for the current year.

Insider Activity

In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the sale, the chief financial officer now owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock valued at $717,274 in the last ninety days. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RIVN shares. Needham & Company LLC lowered their price target on shares of Rivian Automotive from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Barclays dropped their target price on shares of Rivian Automotive from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Stifel Nicolaus lowered their price target on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, February 26th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 target price on shares of Rivian Automotive in a research report on Tuesday, April 2nd. Finally, Piper Sandler upgraded Rivian Automotive from a “neutral” rating to an “overweight” rating and raised their price target for the company from $15.00 to $21.00 in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.91.

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.