300,705 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 300,705 shares of the electric vehicle automaker’s stock, valued at approximately $3,999,000.

Several other institutional investors and hedge funds have also bought and sold shares of RIVN. Baillie Gifford & Co. raised its holdings 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 worth $565,012,000 after acquiring an additional 17,341,786 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after acquiring an additional 2,035,831 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Rivian Automotive during the fourth quarter worth about $9,432,000. Alberta Investment Management Corp bought a new stake in Rivian Automotive during the fourth quarter worth about $6,648,000. Finally, Virtu Financial LLC bought a new stake in Rivian Automotive during the third quarter worth about $4,184,000. Institutional investors own 66.25% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, January 6th. The stock was sold at an average price of $16.17, for a total value of $1,155,006.93. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $13,960,547.37. This trade represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the transaction, the chief financial officer now owns 351,900 shares in the company, valued at approximately $5,278,500. The trade was a 4.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,357 shares of company stock worth $3,988,140 in the last 90 days. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $11.17 on Friday. The stock’s fifty day moving average price is $13.06 and its two-hundred day moving average price is $12.36. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a market cap of $12.63 billion, a PE ratio of -2.37 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America cut Rivian Automotive from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $13.00 to $10.00 in a research report on Monday, February 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Stifel Nicolaus cut their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, Mizuho raised their price objective on Rivian Automotive from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.73.

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.