International Assets Investment Management LLC Acquires 133,428 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

International Assets Investment Management LLC grew its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 1,944.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,291 shares of the electric vehicle automaker’s stock after acquiring an additional 133,428 shares during the period. International Assets Investment Management LLC’s holdings in Rivian Automotive were worth $3,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Moneta Group Investment Advisors LLC bought a new position in Rivian Automotive in the 4th quarter worth $228,175,000. State Street Corp raised its stake in shares of Rivian Automotive by 145.5% in the third quarter. State Street Corp now owns 9,064,249 shares of the electric vehicle automaker’s stock worth $298,304,000 after buying an additional 5,371,852 shares during the period. Norges Bank purchased a new position in shares of Rivian Automotive during the 4th quarter valued at about $85,590,000. Wellington Management Group LLP grew its stake in shares of Rivian Automotive by 228.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,630,315 shares of the electric vehicle automaker’s stock valued at $88,144,000 after acquiring an additional 2,525,142 shares during the period. Finally, BlackRock Inc. increased its holdings in Rivian Automotive by 2.9% in the 1st quarter. BlackRock Inc. now owns 50,903,971 shares of the electric vehicle automaker’s stock worth $787,993,000 after acquiring an additional 1,443,514 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the sale, the chief financial officer now owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the sale, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,306 shares of company stock worth $717,274. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Barclays cut their price target on Rivian Automotive from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Piper Sandler raised Rivian Automotive from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $21.00 in a research note on Friday, March 15th. Wolfe Research reiterated a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Finally, Evercore ISI lowered their price target on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Rivian Automotive currently has an average rating of “Moderate Buy” and an average target price of $19.91.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $8.74 on Thursday. The stock has a 50 day moving average price of $11.85 and a 200-day moving average price of $16.08. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of -1.52 and a beta of 1.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Equities analysts expect that Rivian Automotive, Inc. will post -4.8 EPS for the current year.

Rivian Automotive Company 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.