Rivian Automotive, Inc. (NASDAQ:RIVN) Holdings Raised by Cwm LLC

Cwm LLC grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,849 shares of the electric vehicle automaker’s stock after acquiring an additional 1,609 shares during the quarter. Cwm LLC’s holdings in Rivian Automotive were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in RIVN. PFS Partners LLC grew its stake in Rivian Automotive by 1,882.0% during the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker’s stock worth $25,000 after buying an additional 1,882 shares during the last quarter. Orion Capital Management LLC bought a new position in Rivian Automotive during the 4th quarter worth $34,000. Olde Wealth Management LLC bought a new position in Rivian Automotive during the 1st quarter worth $37,000. Quarry LP bought a new position in Rivian Automotive during the 4th quarter worth $38,000. Finally, Golden State Wealth Management LLC grew its stake in Rivian Automotive by 107.9% during the 1st quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker’s stock worth $41,000 after buying an additional 1,714 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on RIVN. Robert W. Baird lowered their price objective on Rivian Automotive from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Cantor Fitzgerald restated a “neutral” rating and set a $15.00 price objective on shares of Rivian Automotive in a research note on Wednesday, May 7th. UBS Group upped their price objective on Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Stifel Nicolaus boosted their price target on Rivian Automotive from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Finally, Mizuho boosted their price target on Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.38.

Rivian Automotive Trading Up 1.4%

Shares of NASDAQ RIVN opened at $14.01 on Friday. Rivian Automotive, Inc. has a 12 month low of $9.50 and a 12 month high of $17.15. The company has a market cap of $15.84 billion, a price-to-earnings ratio of -3.77 and a beta of 1.81. The company has a quick ratio of 2.80, a current ratio of 3.73 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $14.01 and a 200-day simple moving average of $13.06.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.23. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $981.52 million. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned ($1.48) EPS. Sell-side analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,428 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $15.36, for a total value of $1,097,134.08. Following the completion of the sale, the chief executive officer directly owned 1,483,111 shares of the company’s stock, valued at approximately $22,780,584.96. This represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 17,185 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.39, for a total value of $264,477.15. Following the completion of the sale, the chief financial officer directly owned 824,875 shares of the company’s stock, valued at approximately $12,694,826.25. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,694 shares of company stock valued at $3,144,612. Company insiders own 2.16% of the company’s stock.

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.