Aviva PLC Has $20.06 Million Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Aviva PLC lowered its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,659 shares of the electric vehicle automaker’s stock after selling 11,585 shares during the period. Aviva PLC’s holdings in Rivian Automotive were worth $20,057,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its holdings in shares of Rivian Automotive by 1,329.5% during the first quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 585 shares during the period. Gould Capital LLC lifted its holdings in shares of Rivian Automotive by 175.4% during the third quarter. Gould Capital LLC now owns 785 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 500 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Rivian Automotive by 97.8% during the third quarter. Quadrant Capital Group LLC now owns 979 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 484 shares during the period. Lagoda Investment Management L.P. lifted its holdings in shares of Rivian Automotive by 133.3% during the third quarter. Lagoda Investment Management L.P. now owns 1,400 shares of the electric vehicle automaker’s stock valued at $46,000 after acquiring an additional 800 shares during the period. Finally, Clearview Wealth Advisors LLC lifted its holdings in shares of 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 valued at $27,000 after acquiring an additional 1,040 shares during the period. Institutional investors and hedge funds own 67.97% of the company’s stock.

Rivian Automotive Trading Up 1.3 %

Shares of Rivian Automotive stock opened at $14.57 on Friday. Rivian Automotive, Inc. has a 12-month low of $11.68 and a 12-month high of $40.86. The stock has a market cap of $13.42 billion, a P/E ratio of -2.06 and a beta of 1.67. The company has a quick ratio of 5.08, a current ratio of 5.88 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $13.60 and its 200-day moving average is $18.84.

Rivian Automotive (NASDAQ:RIVN – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The electric vehicle automaker reported ($1.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.26. Rivian Automotive had a negative return on equity of 40.23% and a negative net margin of 292.63%. The company had revenue of $661.00 million for the quarter, compared to analysts’ expectations of $661.97 million. During the same quarter in the prior year, the business posted ($1.43) EPS. The business’s revenue was up 595.8% compared to the same quarter last year. Equities research analysts predict that Rivian Automotive, Inc. will post -5.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on RIVN shares. DA Davidson cut their price objective on Rivian Automotive from $16.00 to $11.00 in a report on Wednesday, May 10th. Robert W. Baird decreased their target price on Rivian Automotive from $44.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Morgan Stanley decreased their target price on Rivian Automotive from $26.00 to $24.00 in a research report on Tuesday, April 18th. Barclays decreased their target price on Rivian Automotive from $28.00 to $22.00 in a research report on Wednesday, May 10th. Finally, Bank of America assumed coverage on Rivian Automotive in a research report on Friday, March 10th. They set a “buy” rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.74.

Rivian Automotive 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 Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.