Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,000 shares of the electric vehicle automaker’s stock after purchasing an additional 35,300 shares during the period. Handelsbanken Fonder AB’s holdings in Rivian Automotive were worth $2,647,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Tandem Financial LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Rivian Automotive during the 4th quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new stake in Rivian Automotive in the 3rd quarter worth $28,000. GHP Investment Advisors Inc. increased its holdings in Rivian Automotive by 63.2% in the 3rd 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 in the last quarter. Finally, American Capital Advisory LLC raised its position in Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $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.

Analyst Ratings Changes

RIVN has been the topic of several research analyst reports. Cantor Fitzgerald lowered shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $13.00 to $15.00 in a research report on Friday. Wells Fargo & Company lifted their price objective on Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America cut Rivian Automotive from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $13.00 to $10.00 in a report on Monday. Sanford C. Bernstein assumed coverage on Rivian Automotive in a research note on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price target on the stock. Finally, Robert W. Baird reiterated a “neutral” rating and set a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.87.

Rivian Automotive Stock Down 7.8 %

RIVN stock opened at $11.96 on Tuesday. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85. The firm has a market cap of $12.21 billion, a PE ratio of -2.53 and a beta of 2.04. The firm’s 50 day moving average price is $13.49 and its 200-day moving average price is $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.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. The company had revenue of $1.73 billion for 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%. On average, equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Insider Activity at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total value of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 275,357 shares of company stock worth $3,988,140. Company insiders own 2.51% of the company’s stock.

About Rivian Automotive

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.