EP Wealth Advisors LLC Purchases 4,211 Shares of Rivian Automotive, Inc. $RIVN

EP Wealth Advisors LLC grew its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 39.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,899 shares of the electric vehicle automaker’s stock after buying an additional 4,211 shares during the quarter. EP Wealth Advisors LLC’s holdings in Rivian Automotive were worth $185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RIVN. PFS Partners LLC grew its stake in Rivian Automotive by 1,882.0% during the first 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 stake in Rivian Automotive during the fourth quarter worth about $34,000. WPG Advisers LLC bought a new stake in Rivian Automotive during the first quarter worth about $34,000. Olde Wealth Management LLC bought a new stake in Rivian Automotive during the first quarter worth about $37,000. Finally, Golden State Wealth Management LLC grew its stake in Rivian Automotive by 107.9% during the first 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 owned by institutional investors.

Rivian Automotive Trading Down 0.2%

Shares of NASDAQ RIVN opened at $13.91 on Thursday. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $17.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.44 and a quick ratio of 2.72. The firm has a market capitalization of $16.88 billion, a P/E ratio of -4.31 and a beta of 1.81. The company’s 50 day simple moving average is $13.03 and its 200 day simple moving average is $12.98.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.46) earnings per share. On average, analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the sale, the chief financial officer directly owned 789,445 shares in the company, valued at approximately $9,694,384.60. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wedbush reduced their target price on shares of Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley reduced their target price on shares of Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 13th. UBS Group reduced their target price on shares of Rivian Automotive from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Rivian Automotive from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Guggenheim lowered shares of Rivian Automotive from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.67.

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.