TD Asset Management Inc Has $5.79 Million Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

TD Asset Management Inc raised its holdings in Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,845 shares of the electric vehicle automaker’s stock after acquiring an additional 25,567 shares during the period. TD Asset Management Inc’s holdings in Rivian Automotive were worth $5,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RIVN. Bear Mountain Capital Inc. acquired a new position in Rivian Automotive in the fourth quarter valued at about $26,000. Ancora Advisors LLC bought a new stake in shares of Rivian Automotive in the third quarter valued at about $27,000. Principal Securities Inc. bought a new stake in shares of Rivian Automotive in the fourth quarter valued at about $33,000. Arlington Trust Co LLC bought a new stake in shares of Rivian Automotive in the fourth quarter valued at about $35,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Rivian Automotive by 86.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker’s stock valued at $40,000 after purchasing an additional 784 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore ISI cut their price target on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. JPMorgan Chase & Co. lowered Rivian Automotive from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $20.00 to $11.00 in a report on Thursday, February 22nd. Mizuho dropped their target price on Rivian Automotive from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Barclays dropped their target price on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Finally, Jefferies Financial Group began coverage on Rivian Automotive in a report on Thursday, March 7th. They set a “buy” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive has an average rating of “Moderate Buy” and an average price target of $19.00.

Get Our Latest Stock Report on Rivian Automotive

Rivian Automotive Price Performance

RIVN stock opened at $11.45 on Thursday. The stock’s 50 day simple moving average is $10.02 and its 200 day simple moving average is $14.18. 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 quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Equities research analysts forecast that Rivian Automotive, Inc. will post -4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the sale, the insider now directly owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at $690,829.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Rivian Automotive Company 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.

Further Reading

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

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