Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Position Lifted by First Horizon Advisors Inc.

First Horizon Advisors Inc. boosted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 110.2% in the fourth quarter, according to the company in its most recent filing 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 quarter. First Horizon Advisors Inc.’s holdings in Rivian Automotive were worth $65,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in Rivian Automotive by 18.7% during the third quarter. Commonwealth Equity Services LLC now owns 215,885 shares of the electric vehicle automaker’s stock valued at $5,242,000 after purchasing an additional 34,044 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Rivian Automotive by 2.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 101,040 shares of the electric vehicle automaker’s stock worth $2,453,000 after buying an additional 2,724 shares during the last quarter. Xponance Inc. raised its position in Rivian Automotive by 30.5% during the third quarter. Xponance Inc. now owns 24,084 shares of the electric vehicle automaker’s stock valued at $585,000 after acquiring an additional 5,622 shares in the last quarter. Raymond James & Associates lifted its stake in Rivian Automotive by 1.2% in the third quarter. Raymond James & Associates now owns 239,852 shares of the electric vehicle automaker’s stock valued at $5,824,000 after acquiring an additional 2,947 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Rivian Automotive by 22.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 271,029 shares of the electric vehicle automaker’s stock worth $6,581,000 after acquiring an additional 49,373 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 2,946 shares of the company’s stock in a transaction that occurred 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 directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction on Friday, February 16th. The shares were 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 approximately $2,523,133.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock worth $717,274 over the last quarter. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RIVN. Barclays cut their price target on shares of Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Wells Fargo & Company cut their target price on Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. Robert W. Baird decreased their price target on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. DA Davidson cut their price objective on Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Finally, Morgan Stanley decreased their target price on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. 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 data from MarketBeat.com, Rivian Automotive presently has an average rating of “Moderate Buy” and an average target price of $19.57.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $10.25 on Wednesday. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of -1.79 and a beta of 1.91. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The business has a fifty day simple moving average of $10.37 and a 200 day simple moving average of $15.04. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) 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 company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Sell-side analysts expect that Rivian Automotive, Inc. will post -4.77 EPS for the current year.

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.