First Horizon Advisors Inc. Has $65,000 Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

First Horizon Advisors Inc. boosted its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 110.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,787 shares of the electric vehicle automaker’s stock after buying an additional 1,461 shares during the period. First Horizon Advisors Inc.’s holdings in Rivian Automotive were worth $65,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Rivian Automotive during the 4th quarter worth approximately $26,000. Ancora Advisors LLC acquired a new stake in shares of Rivian Automotive in the 3rd quarter valued at $27,000. Arlington Trust Co LLC bought a new position in shares of Rivian Automotive in the 4th quarter valued at $35,000. Parkside Financial Bank & Trust raised its holdings in shares of Rivian Automotive by 86.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker’s stock worth $40,000 after buying an additional 784 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of Rivian Automotive during the 4th quarter worth $41,000. 66.25% of the stock is owned by institutional investors.

Insider Transactions at Rivian Automotive

In related news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the sale, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Kjell Gruner sold 19,935 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total value of $255,367.35. Following the transaction, the insider now owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the sale, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at $690,829.70. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $717,274 over the last ninety days. 2.30% of the stock is owned by company insiders.

Rivian Automotive Trading Down 0.8 %

NASDAQ:RIVN opened at $10.25 on Wednesday. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $28.06. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -1.79 and a beta of 1.91. The firm has a fifty day simple moving average of $10.37 and a two-hundred day simple moving average of $15.04.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating the consensus estimate of ($1.67) by $0.09. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. Analysts expect that Rivian Automotive, Inc. will post -4.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Mizuho reissued a “neutral” rating and set a $12.00 price target on shares of Rivian Automotive in a research note on Monday, March 25th. Wells Fargo & Company cut their target price on shares of Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Jefferies Financial Group initiated coverage on shares of Rivian Automotive in a research report on Thursday, March 7th. They issued a “buy” rating and a $16.00 price target for the company. Needham & Company LLC cut their price target on shares of Rivian Automotive from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Truist Financial restated a “hold” rating and issued a $10.00 price objective (down from $11.00) on shares of Rivian Automotive in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Rivian Automotive currently has an average rating of “Moderate Buy” and a consensus target price of $19.57.

Rivian Automotive 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.