Royal London Asset Management Ltd. Grows Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Royal London Asset Management Ltd. increased its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,614 shares of the electric vehicle automaker’s stock after buying an additional 11,491 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Rivian Automotive were worth $4,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. increased its position in shares of Rivian Automotive by 11.3% in the fourth quarter. Xponance Inc. now owns 74,791 shares of the electric vehicle automaker’s stock valued at $995,000 after acquiring an additional 7,584 shares during the period. Axxcess Wealth Management LLC increased its holdings in Rivian Automotive by 6.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 57,507 shares of the electric vehicle automaker’s stock valued at $765,000 after purchasing an additional 3,571 shares during the period. Creative Financial Designs Inc. ADV raised its position in Rivian Automotive by 28.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 7,903 shares of the electric vehicle automaker’s stock valued at $105,000 after purchasing an additional 1,754 shares during the last quarter. Natixis Advisors LLC purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $263,000. Finally, Achmea Investment Management B.V. grew its position in shares of Rivian Automotive by 852.8% in the 4th quarter. Achmea Investment Management B.V. now owns 216,201 shares of the electric vehicle automaker’s stock worth $2,876,000 after buying an additional 193,511 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the completion of the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $11,879,847.36. The trade was a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 6,856 shares of the company’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 sale, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,998 shares of company stock worth $1,744,184 over the last three months. 2.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Guggenheim dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 24th. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barclays raised their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Finally, UBS Group upped their target price on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.38.

Rivian Automotive Stock Performance

Shares of RIVN opened at $11.60 on Monday. The company has a market cap of $13.12 billion, a price-to-earnings ratio of -2.46 and a beta of 2.03. The business’s fifty day simple moving average is $12.41 and its two-hundred day simple moving average is $12.16. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.86. 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 (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.06. The company 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%. Research analysts anticipate 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.