Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,057 shares of the electric vehicle automaker’s stock after purchasing an additional 2,870 shares during the period. Daiwa Securities Group Inc.’s holdings in Rivian Automotive were worth $1,409,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $26,000. Ancora Advisors LLC acquired a new position in shares of Rivian Automotive in the 3rd quarter valued at $27,000. MCF Advisors LLC increased its position in shares of Rivian Automotive by 396.8% in the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock valued at $30,000 after acquiring an additional 1,000 shares during the period. First Horizon Advisors Inc. increased its position in shares of Rivian Automotive by 1,537.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 1,245 shares during the period. Finally, Arlington Trust Co LLC acquired a new position in shares of Rivian Automotive in the 4th quarter valued at $35,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Mizuho reissued a “neutral” rating and issued a $12.00 target price on shares of Rivian Automotive in a research report on Monday, March 25th. Wells Fargo & Company cut their target price on Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. DA Davidson cut their target price on Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Robert W. Baird cut their price target on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of Rivian Automotive in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.61.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $9.04 on Wednesday. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $28.06. The firm’s 50-day moving average price is $11.39 and its 200 day moving average price is $15.77. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion for 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%. On average, research analysts expect that Rivian Automotive, Inc. will post -4.79 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were 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 other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the sale, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. In the last three months, insiders have sold 54,306 shares of company stock valued at $717,274. 2.30% of the stock is owned by corporate insiders.

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.