APG Asset Management N.V. Acquires New Shares in Rivian Automotive, Inc. (NASDAQ:RIVN)

APG Asset Management N.V. bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, HoldingsChannel reports. The firm bought 393,000 shares of the electric vehicle automaker’s stock, valued at approximately $5,048,000.

Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC lifted its holdings in shares of Rivian Automotive by 8.3% in the fourth quarter. Advisory Services Network LLC now owns 17,158 shares of the electric vehicle automaker’s stock worth $228,000 after buying an additional 1,314 shares in the last quarter. Bank of Nova Scotia increased its holdings in Rivian Automotive by 34.7% during the 4th quarter. Bank of Nova Scotia now owns 45,344 shares of the electric vehicle automaker’s stock worth $604,000 after acquiring an additional 11,678 shares during the period. Rollins Financial Advisors LLC purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $142,000. Polymer Capital Management US LLC bought a new position in Rivian Automotive in the 4th quarter valued at $379,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Rivian Automotive during the 4th quarter valued at $117,000. 66.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Truist Financial lifted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Robert W. Baird reiterated a “neutral” rating and set a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Guggenheim decreased their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Needham & Company LLC lifted their target price on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Baird R W lowered shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.25.

Rivian Automotive Stock Up 0.1 %

Shares of Rivian Automotive stock opened at $11.47 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.86. The company’s 50 day moving average price is $11.99 and its 200-day moving average price is $12.05. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of -2.43 and a beta of 1.89.

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

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,879,847.36. The trade was a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock worth $2,237,044 in the last 90 days. Company insiders own 2.51% of the company’s stock.

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.