Quest Partners LLC Has $156,000 Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Quest Partners LLC lifted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 109.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,945 shares of the electric vehicle automaker’s stock after buying an additional 7,273 shares during the period. Quest Partners LLC’s holdings in Rivian Automotive were worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in Rivian Automotive by 59.1% during the 1st quarter. Tidal Investments LLC now owns 247,118 shares of the electric vehicle automaker’s stock worth $2,706,000 after buying an additional 91,810 shares in the last quarter. Comerica Bank grew its stake in shares of Rivian Automotive by 60.8% in the first quarter. Comerica Bank now owns 22,886 shares of the electric vehicle automaker’s stock valued at $251,000 after acquiring an additional 8,653 shares in the last quarter. Swedbank AB acquired a new position in Rivian Automotive in the first quarter valued at about $6,887,000. Cetera Investment Advisers boosted its stake in Rivian Automotive by 151.5% in the first quarter. Cetera Investment Advisers now owns 192,138 shares of the electric vehicle automaker’s stock valued at $2,104,000 after buying an additional 115,741 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in Rivian Automotive by 108.3% in the 1st quarter. Cetera Advisors LLC now owns 84,409 shares of the electric vehicle automaker’s stock worth $924,000 after purchasing an additional 43,882 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Trading Up 5.8 %

NASDAQ RIVN opened at $12.22 on Friday. The stock’s fifty day moving average price is $10.67 and its 200-day moving average price is $12.45. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61. The stock has a market cap of $12.47 billion, a P/E ratio of -2.18 and a beta of 2.04.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RIVN. Cantor Fitzgerald reiterated an “overweight” rating and set a $19.00 price target on shares of Rivian Automotive in a report on Monday, September 30th. UBS Group lowered their target price on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC decreased their price target on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Mizuho decreased their price target on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Robert W. Baird lowered their target price on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.73.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 253,210 shares of company stock worth $3,079,695 over the last quarter. 2.51% of the stock is currently owned by insiders.

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.