Arizona State Retirement System grew its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,626 shares of the electric vehicle automaker’s stock after buying an additional 1,683 shares during the quarter. Arizona State Retirement System’s holdings in Rivian Automotive were worth $1,597,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Gould Capital LLC boosted its stake in shares of Rivian Automotive by 175.4% during the 3rd quarter. Gould Capital LLC now owns 785 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. Clearview Wealth Advisors LLC boosted its stake in shares of Rivian Automotive by 254.3% during the 4th quarter. Clearview Wealth Advisors LLC now owns 1,449 shares of the electric vehicle automaker’s stock valued at $27,000 after buying an additional 1,040 shares during the last quarter. WFA of San Diego LLC purchased a new position in shares of Rivian Automotive during the 4th quarter valued at approximately $28,000. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Rivian Automotive during the 4th quarter valued at approximately $28,000. Finally, Quadrant Capital Group LLC raised its position in shares of Rivian Automotive by 97.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 979 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 484 shares in the last quarter. 67.97% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently issued reports on RIVN. DA Davidson dropped their price target on Rivian Automotive from $16.00 to $11.00 in a research report on Wednesday. Bank of America began coverage on Rivian Automotive in a research report on Friday, March 10th. They set a “buy” rating and a $40.00 price target on the stock. Mizuho dropped their price target on Rivian Automotive from $35.00 to $30.00 in a research report on Wednesday. Cantor Fitzgerald dropped their price target on Rivian Automotive from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 1st. Finally, Barclays dropped their price target on Rivian Automotive from $28.00 to $22.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive has an average rating of “Hold” and an average target price of $27.65.
Rivian Automotive Trading Down 1.9 %
Rivian Automotive (NASDAQ:RIVN – Get Rating) last announced its earnings results on Tuesday, May 9th. The electric vehicle automaker reported ($1.25) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.26. Rivian Automotive had a negative return on equity of 37.49% and a negative net margin of 407.24%. The business had revenue of $661.00 million during the quarter, compared to analysts’ expectations of $661.97 million. During the same quarter last year, the business posted ($1.43) earnings per share. The company’s quarterly revenue was up 595.8% on a year-over-year basis. On average, sell-side analysts expect that Rivian Automotive, Inc. will post -5.51 earnings per share for the current fiscal year.
Insider Activity at Rivian Automotive
In related news, CAO Jeff Baker sold 2,331 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $18.98, for a total value of $44,242.38. Following the completion of the transaction, the chief accounting officer now owns 87,000 shares in the company, valued at approximately $1,651,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Jeff Baker sold 2,331 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $18.98, for a total value of $44,242.38. Following the completion of the transaction, the chief accounting officer now owns 87,000 shares in the company, valued at approximately $1,651,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Claire Mcdonough sold 2,090 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.99, for a total value of $39,689.10. Following the completion of the transaction, the chief financial officer now owns 75,804 shares of the company’s stock, valued at approximately $1,439,517.96. The disclosure for this sale can be found here. 2.34% of the stock is currently owned by corporate insiders.
Rivian Automotive Company Profile
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
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