2 weeks Ago By Defense World Staff
Alliancebernstein L.P. decreased its stake in shares of Rivian Automotive, Inc.
(NASDAQ:RIVN – Free Report) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 359,405 shares of the electric vehicle automaker’s stock after selling 16,015 shares during the period.
Alliancebernstein L.P.’s holdings in Rivian Automotive were worth $4,780,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Rivian Automotive by 1.8% during the third quarter.
Geode Capital Management LLC now owns 13,000,392 shares of the electric vehicle automaker’s stock valued at $145,550,000 after acquiring an additional 223,860 shares during the period. Norges Bank acquired a new stake in Rivian Automotive during the 4th quarter worth approximately $123,308,000. Charles Schwab Investment Management Inc.
raised its holdings in Rivian Automotive by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc.
now owns 4,741,001 shares of the electric vehicle automaker’s stock valued at $63,055,000 after buying an additional 133,781 shares during the period. California Public Employees Retirement System grew its stake in Rivian Automotive by 19.7% during the fourth quarter.
California Public Employees Retirement System now owns 1,265,248 shares of the electric vehicle automaker’s stock worth $16,828,000 after buying an additional 208,326 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd.
raised its stake in shares of Rivian Automotive by 10.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co.
Ltd. now owns 809,295 shares of the electric vehicle automaker’s stock valued at $10,764,000 after acquiring an additional 73,812 shares during the period. Institutional investors and hedge funds own 66.
25% of the company’s stock. Insider Activity at Rivian AutomotiveIn other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, April 7th.
The stock was sold at an average price of $11.25, for a total value of $803,576.25.
Following the completion of the transaction, the chief executive officer now owns 853,011 shares of the company’s stock, valued at approximately $9,596,373.75. This represents a 7.
73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th.
The shares were sold at an average price of $14.26, for a total transaction of $97,766.56.
Following the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.
01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock worth $2,237,044 in the last three months.
2.51% of the stock is owned by company insiders. Rivian Automotive Stock PerformanceShares of RIVN opened at $11.
47 on Monday. The firm has a fifty day moving average of $11.99 and a 200-day moving average of $12.
06. The company has a market cap of $12.97 billion, a price-to-earnings ratio of -2.
43 and a beta of 1.89. The company has a debt-to-equity ratio of 0.
93, a quick ratio of 3.70 and a current ratio of 5.09.
Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.
86. Rivian Automotive (NASDAQ:RIVN – Get Free Report) last posted its earnings results 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.
Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%.
The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion.
As a group, equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.
Wall Street Analysts Forecast GrowthSeveral brokerages recently issued reports on RIVN. Baird R W downgraded Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Needham & Company LLC raised their target price on Rivian Automotive from $14.
00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 21st. Wells Fargo & Company upped their price target on Rivian Automotive from $11.
00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Guggenheim reduced their target price on shares of Rivian Automotive from $18.
00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, The Goldman Sachs Group lowered their price target on shares of Rivian Automotive from $14.
00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company.
According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.25.Check Out Our Latest Research Report on RIVNAbout Rivian Automotive (Free Report)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.See AlsoFive stocks we like better than Rivian AutomotiveHow to Invest in Blue Chip StocksIs McDonald’s Stock Serving a Value Meal to Investors? What Does a Stock Split Mean? Walgreens Comeback? Private Equity Circling for a BuyoutWhat is Put Option Volume?Coca-Cola Stock Looks Refreshing After the Relief Rally.
