Metis Global Partners LLC Acquires 7,922 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Metis Global Partners LLC grew its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 6.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 123,086 shares of the electric vehicle automaker’s stock after purchasing an additional 7,922 shares during the period. Metis Global Partners LLC’s holdings in Rivian Automotive were worth $1,637,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. John G Ullman & Associates Inc. grew its position in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after acquiring an additional 1,000 shares during the last quarter. RFG Holdings Inc. grew its position in Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock worth $296,000 after acquiring an additional 1,096 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock worth $354,000 after acquiring an additional 1,160 shares during the last quarter. Tradition Wealth Management LLC grew its position in Rivian Automotive by 11.9% during the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock worth $132,000 after acquiring an additional 1,250 shares during the last quarter. Finally, World Investment Advisors LLC grew its position in Rivian Automotive by 8.6% during the 3rd quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker’s stock worth $204,000 after acquiring an additional 1,446 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RIVN. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research report on Friday, November 8th. Benchmark began coverage on Rivian Automotive in a research report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Truist Financial upped their price target on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Royal Bank of Canada reduced their price target on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Needham & Company LLC upped their price target on Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.87.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 directly owns 335,076 shares of the company’s stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred 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. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,357 shares of company stock valued at $3,988,140 over the last ninety days. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Stock Down 2.8 %

RIVN stock opened at $11.51 on Tuesday. The stock’s 50 day simple moving average is $13.32 and its 200 day simple moving average is $12.43. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.86. 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 company has a market cap of $13.01 billion, a P/E ratio of -2.44 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share 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 business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

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.