Signaturefd LLC Purchases 1,420 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Signaturefd LLC increased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,645 shares of the electric vehicle automaker’s stock after buying an additional 1,420 shares during the period. Signaturefd LLC’s holdings in Rivian Automotive were worth $602,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bear Mountain Capital Inc. bought a new stake in shares of Rivian Automotive during the 4th quarter worth $26,000. Ancora Advisors LLC bought a new stake in shares of Rivian Automotive during the 3rd quarter worth $27,000. MCF Advisors LLC boosted its holdings in shares of Rivian Automotive by 396.8% during the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock worth $30,000 after buying an additional 1,000 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Rivian Automotive by 1,537.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after buying an additional 1,245 shares during the period. Finally, Arlington Trust Co LLC bought a new stake in Rivian Automotive in the 4th quarter valued at $35,000. 66.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley reduced their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 price target on shares of Rivian Automotive in a report on Tuesday, April 2nd. Wolfe Research reissued a “peer perform” rating on shares of Rivian Automotive in a report on Thursday, January 4th. Jefferies Financial Group began coverage on shares of Rivian Automotive in a report on Thursday, March 7th. They issued a “buy” rating and a $16.00 price target for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive has a consensus rating of “Moderate Buy” and a consensus target price of $19.61.

Rivian Automotive Trading Up 2.8 %

Shares of NASDAQ RIVN opened at $9.04 on Wednesday. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $28.06. The company has a market cap of $8.84 billion, a PE ratio of -1.57 and a beta of 1.88. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $11.39 and a two-hundred day moving average of $15.77.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. As a group, equities analysts expect that Rivian Automotive, Inc. will post -4.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the sale, the insider now directly owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the transaction, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock valued at $717,274 over the last ninety days. Insiders own 2.30% of the company’s stock.

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.