Cambridge Investment Research Advisors Inc. Acquires 1,000 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Cambridge Investment Research Advisors Inc. increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 102,040 shares of the electric vehicle automaker’s stock after purchasing an additional 1,000 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rivian Automotive were worth $2,394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bear Mountain Capital Inc. bought a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $26,000. Ancora Advisors LLC bought a new stake in shares of Rivian Automotive during the third quarter worth approximately $27,000. Principal Securities Inc. bought a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $33,000. Arlington Trust Co LLC bought a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $35,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Rivian Automotive by 86.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker’s stock worth $40,000 after acquiring an additional 784 shares during the period. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $10.92 on Monday. The firm’s fifty day moving average price is $10.00 and its two-hundred day moving average price is $14.25. The stock has a market cap of $10.87 billion, a PE ratio of -1.89 and a beta of 2.00. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $28.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.38) by ($0.03). Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, equities analysts expect that Rivian Automotive, Inc. will post -4.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RIVN shares. Jefferies Financial Group started coverage on Rivian Automotive in a report on Thursday, March 7th. They set a “buy” rating and a $16.00 price objective for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 price target on shares of Rivian Automotive in a research report on Tuesday, April 2nd. Morgan Stanley dropped their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Robert W. Baird dropped their price target on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Finally, Truist Financial reiterated a “hold” rating and issued a $10.00 price target (down from $11.00) on shares of Rivian Automotive in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Read Our Latest Research Report on RIVN

Insider Buying and Selling

In related news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at $690,829.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now directly owns 407,787 shares in the company, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Rivian Automotive Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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