Global Retirement Partners LLC Increases Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Global Retirement Partners LLC grew its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 29.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,341 shares of the electric vehicle automaker’s stock after buying an additional 5,731 shares during the quarter. Global Retirement Partners LLC’s holdings in Rivian Automotive were worth $337,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in RIVN. Tandem Financial LLC acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new stake in Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive in the third quarter valued at approximately $28,000. GHP Investment Advisors Inc. grew its position in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. Finally, American Capital Advisory LLC increased its holdings in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the completion of the transaction, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. The trade was a 4.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $13.88, for a total value of $991,434.52. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,983,450.68. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,357 shares of company stock valued at $3,988,140 over the last quarter. Corporate insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RIVN shares. Guggenheim decreased their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday. Cantor Fitzgerald downgraded shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $13.00 to $15.00 in a research note on Friday. Sanford C. Bernstein started coverage on Rivian Automotive in a research report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price target on the stock. Wells Fargo & Company increased their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Stifel Nicolaus lowered their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.87.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $11.96 on Tuesday. The stock has a fifty day moving average price of $13.49 and a 200 day moving average price of $12.48. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock has a market cap of $12.21 billion, a PE ratio of -2.53 and a beta of 2.04. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.85.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly 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 business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Sell-side analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

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.