Rollins Financial Advisors LLC Acquires Shares of 10,707 Rivian Automotive, Inc. (NASDAQ:RIVN)

Rollins Financial Advisors LLC bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, Holdings Channel reports. The fund bought 10,707 shares of the electric vehicle automaker’s stock, valued at approximately $142,000.

Several other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Rivian Automotive by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker’s stock valued at $63,055,000 after buying an additional 133,781 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Rivian Automotive in the fourth quarter valued at $1,363,000. Groupama Asset Managment purchased a new position in shares of Rivian Automotive in the fourth quarter valued at $26,600,000. SG Americas Securities LLC increased its position in Rivian Automotive by 42.7% in the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock worth $2,404,000 after purchasing an additional 54,053 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Rivian Automotive during the fourth quarter valued at $10,448,000. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Price Performance

RIVN opened at $11.21 on Tuesday. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of -2.37 and a beta of 1.89. 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 $18.86. The business’s fifty day simple moving average is $12.14 and its 200-day simple moving average is $12.07.

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

Insider Activity

In related news, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $11.82, for a total transaction of $844,290.78. Following the completion of the transaction, the chief executive officer now owns 853,011 shares of the company’s stock, valued at $10,082,590.02. This represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,998 shares of company stock worth $1,433,468. 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. UBS Group lifted their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Piper Sandler lowered Rivian Automotive from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $13.00 in a research report on Thursday, March 20th. Needham & Company LLC upped their price objective on Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Cowen began coverage on Rivian Automotive in a report on Thursday, March 6th. They issued a “hold” rating for the company. Finally, Baird R W lowered 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 issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.38.

Rivian Automotive Company 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.