3,567 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,567 shares of the electric vehicle automaker’s stock, valued at approximately $84,000.

Several other hedge funds have also recently added to or reduced their stakes in RIVN. Wellington Management Group LLP boosted its stake in Rivian Automotive by 228.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,630,315 shares of the electric vehicle automaker’s stock valued at $88,144,000 after purchasing an additional 2,525,142 shares during the period. Morgan Stanley boosted its stake in Rivian Automotive by 14.0% during the 3rd quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after purchasing an additional 1,193,650 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Rivian Automotive by 38.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,282,027 shares of the electric vehicle automaker’s stock valued at $55,408,000 after acquiring an additional 631,397 shares in the last quarter. Northern Trust Corp raised its holdings in Rivian Automotive by 14.8% in the 3rd quarter. Northern Trust Corp now owns 4,235,291 shares of the electric vehicle automaker’s stock valued at $102,833,000 after acquiring an additional 544,588 shares in the last quarter. Finally, Bamco Inc. NY raised its holdings in Rivian Automotive by 25.4% in the 3rd quarter. Bamco Inc. NY now owns 2,531,751 shares of the electric vehicle automaker’s stock valued at $61,471,000 after acquiring an additional 512,495 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

RIVN has been the subject of several recent research reports. Bank of America cut their price target on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Barclays cut their price target on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price target on shares of Rivian Automotive in a report on Wednesday, April 3rd. Piper Sandler raised Rivian Automotive from a “neutral” rating to an “overweight” rating and upped their price target for the company from $15.00 to $21.00 in a report on Friday, March 15th. Finally, Robert W. Baird dropped their target price on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.61.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $9.38 on Tuesday. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The stock’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $15.41. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -4.76 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 52,415 shares in the company, valued at approximately $690,829.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeff Baker sold 31,425 shares of the stock in a transaction on Monday, March 11th. The shares were 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 owns 52,415 shares in the company, valued at $690,829.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,306 shares of company stock worth $717,274. Insiders own 2.30% of the company’s stock.

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.