10,829,346 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by Capital International Investors

Capital International Investors acquired a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,829,346 shares of the electric vehicle automaker’s stock, valued at approximately $144,030,000. Capital International Investors owned 1.06% of Rivian Automotive at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RIVN. Bridgewater Associates LP purchased a new stake in shares of Rivian Automotive in the fourth quarter worth approximately $7,584,000. LaSalle St. Investment Advisors LLC bought a new stake in shares of Rivian Automotive during the fourth quarter worth $746,000. Townsquare Capital LLC boosted its stake in shares of Rivian Automotive by 26.9% during the fourth quarter. Townsquare Capital LLC now owns 29,731 shares of the electric vehicle automaker’s stock valued at $395,000 after purchasing an additional 6,303 shares during the period. Rockefeller Capital Management L.P. increased its stake in Rivian Automotive by 34.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 50,156 shares of the electric vehicle automaker’s stock worth $666,000 after buying an additional 12,867 shares during the period. Finally, Sterling Capital Management LLC lifted its holdings in Rivian Automotive by 57.0% during the 4th quarter. Sterling Capital Management LLC now owns 50,034 shares of the electric vehicle automaker’s stock valued at $665,000 after buying an additional 18,161 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Up 1.0 %

Shares of Rivian Automotive stock opened at $11.60 on Friday. The firm has a fifty day moving average price of $11.89 and a 200 day moving average price of $12.08. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock has a market cap of $13.12 billion, a PE ratio of -2.46 and a beta of 1.89. Rivian Automotive, Inc. has a 1 year low of $8.32 and a 1 year high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Equities research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total transaction of $491,410.88. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $11,879,847.36. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,427 shares of company stock worth $2,237,044. Corporate insiders own 2.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group dropped their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. UBS Group lowered their target price on Rivian Automotive from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Mizuho cut their price target on Rivian Automotive from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. TD Cowen assumed coverage on shares of Rivian Automotive in a report on Friday, March 7th. They set a “hold” rating and a $12.70 target price on the stock. Finally, Truist Financial boosted their price target on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.17.

About Rivian Automotive

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.