Tredje AP fonden purchased a new position in Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 67,770 shares of the electric vehicle automaker’s stock, valued at approximately $1,049,000.
A number of other hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Rivian Automotive by 405.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 101,614 shares of the electric vehicle automaker’s stock valued at $1,573,000 after acquiring an additional 81,529 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Rivian Automotive by 3.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 183,699 shares of the electric vehicle automaker’s stock valued at $2,844,000 after acquiring an additional 5,318 shares during the period. Orion Capital Management LLC lifted its stake in Rivian Automotive by 67.7% during the 1st quarter. Orion Capital Management LLC now owns 2,230 shares of the electric vehicle automaker’s stock valued at $35,000 after acquiring an additional 900 shares during the period. Principal Financial Group Inc. lifted its stake in Rivian Automotive by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 51,914 shares of the electric vehicle automaker’s stock valued at $804,000 after acquiring an additional 2,209 shares during the period. Finally, Spire Wealth Management lifted its stake in Rivian Automotive by 37.7% during the 1st quarter. Spire Wealth Management now owns 7,863 shares of the electric vehicle automaker’s stock valued at $122,000 after acquiring an additional 2,151 shares during the period. Institutional investors own 62.04% of the company’s stock.
Insider Buying and Selling
In related news, CFO Claire Mcdonough sold 3,625 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $13.71, for a total value of $49,698.75. Following the completion of the sale, the chief financial officer now directly owns 72,304 shares in the company, valued at $991,287.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Claire Mcdonough sold 3,625 shares of Rivian Automotive stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $13.71, for a total transaction of $49,698.75. Following the completion of the sale, the chief financial officer now directly owns 72,304 shares in the company, valued at $991,287.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jeff Baker sold 20,000 shares of Rivian Automotive stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $14.53, for a total value of $290,600.00. Following the sale, the chief accounting officer now owns 86,204 shares of the company’s stock, valued at $1,252,544.12. The disclosure for this sale can be found here. Insiders sold a total of 54,423 shares of company stock worth $793,029 over the last three months. 2.30% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on Rivian Automotive
Rivian Automotive Price Performance
Shares of RIVN opened at $20.78 on Friday. The business has a fifty day moving average of $21.25 and a 200 day moving average of $17.28. Rivian Automotive, Inc. has a 52-week low of $11.68 and a 52-week high of $40.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.71 and a current ratio of 5.66.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The electric vehicle automaker reported ($1.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.34. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.02 billion. Rivian Automotive had a negative return on equity of 38.91% and a negative net margin of 200.97%. Rivian Automotive’s revenue was up 208.0% on a year-over-year basis. During the same period last year, the company earned ($1.89) earnings per share. On average, research analysts predict that Rivian Automotive, Inc. will post -5.89 EPS for the current fiscal year.
Rivian Automotive Profile
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.
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