Rivian Automotive, Inc.  (NASDAQ:RIVN) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) by 170.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,648 shares of the electric vehicle automaker’s stock after acquiring an additional 10,495 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Rivian Automotive were worth $307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gould Capital LLC raised its stake in Rivian Automotive by 175.4% during the third quarter. Gould Capital LLC now owns 785 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 500 shares during the period. Clearview Wealth Advisors LLC raised its stake in Rivian Automotive by 254.3% during the fourth quarter. Clearview Wealth Advisors LLC now owns 1,449 shares of the electric vehicle automaker’s stock worth $27,000 after purchasing an additional 1,040 shares during the period. WFA of San Diego LLC purchased a new position in Rivian Automotive during the fourth quarter worth about $28,000. US Capital Wealth Advisors LLC purchased a new position in Rivian Automotive during the fourth quarter worth about $28,000. Finally, Quadrant Capital Group LLC raised its stake in Rivian Automotive by 97.8% during the third quarter. Quadrant Capital Group LLC now owns 979 shares of the electric vehicle automaker’s stock worth $32,000 after purchasing an additional 484 shares during the period. 67.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Jeff Baker sold 2,331 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.98, for a total value of $44,242.38. Following the completion of the transaction, the chief accounting officer now owns 87,000 shares in the company, valued at approximately $1,651,260. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Jeff Baker sold 2,331 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.98, for a total value of $44,242.38. Following the completion of the transaction, the chief accounting officer now owns 87,000 shares in the company, valued at approximately $1,651,260. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 2,090 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.99, for a total transaction of $39,689.10. Following the completion of the transaction, the chief financial officer now owns 75,804 shares of the company’s stock, valued at approximately $1,439,517.96. The disclosure for this sale can be found here. 2.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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A number of brokerages have commented on RIVN. Wedbush reduced their target price on shares of Rivian Automotive from $37.00 to $25.00 in a research note on Wednesday, March 1st. Evercore ISI reduced their price target on shares of Rivian Automotive from $35.00 to $25.00 in a research note on Monday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of Rivian Automotive in a research note on Wednesday, March 29th. Bank of America began coverage on shares of Rivian Automotive in a research note on Friday, March 10th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, DA Davidson reduced their price target on shares of Rivian Automotive from $23.00 to $16.00 in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and a consensus target price of $29.30.

Rivian Automotive Trading Up 3.6 %

NASDAQ RIVN opened at $13.41 on Friday. The company has a quick ratio of 4.86, a current ratio of 5.42 and a debt-to-equity ratio of 0.09. Rivian Automotive, Inc. has a 52 week low of $11.68 and a 52 week high of $40.86. The stock has a market capitalization of $12.35 billion, a PE ratio of -1.81 and a beta of 1.67. The firm has a 50 day moving average of $14.05 and a two-hundred day moving average of $20.61.

Rivian Automotive (NASDAQ:RIVN – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The electric vehicle automaker reported ($1.73) EPS for the quarter, topping the consensus estimate of ($1.89) by $0.16. Rivian Automotive had a negative net margin of 407.24% and a negative return on equity of 37.49%. The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $729.47 million. During the same quarter in the previous year, the business posted ($2.43) EPS. The firm’s revenue was up 1127.8% on a year-over-year basis. As a group, research analysts expect that Rivian Automotive, Inc. will post -5.51 EPS for the current fiscal year.

Rivian Automotive Company Profile

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Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides a Rivian Commercial Vehicle platform for electric Delivery Vans with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

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

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