10,030 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by HCR Wealth Advisors

HCR Wealth Advisors bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,030 shares of the electric vehicle automaker’s stock, valued at approximately $133,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RIVN. Baillie Gifford & Co. boosted its position in Rivian Automotive by 52.5% during the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after acquiring an additional 17,341,786 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rivian Automotive by 79.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after purchasing an additional 2,035,831 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Rivian Automotive by 102.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker’s stock valued at $33,276,000 after purchasing an additional 1,257,106 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Rivian Automotive during the second quarter worth approximately $9,388,000. Finally, abrdn plc increased its holdings in Rivian Automotive by 17.8% in the third quarter. abrdn plc now owns 3,439,143 shares of the electric vehicle automaker’s stock worth $38,587,000 after purchasing an additional 518,561 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

Shares of RIVN opened at $14.44 on Friday. The stock has a 50 day moving average of $12.89 and a 200 day moving average of $13.07. 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 $18.85. The company has a market capitalization of $14.74 billion, a price-to-earnings ratio of -2.58 and a beta of 2.05.

Insider Activity

In other news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,429 shares of company stock valued at $4,467,450 in the last ninety days. 2.51% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RIVN has been the subject of several recent analyst reports. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their price target on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Stifel Nicolaus dropped their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Needham & Company LLC reduced their target price on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Piper Sandler cut their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.48.

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.