Oppenheimer & Co. Inc. Has $434,000 Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Oppenheimer & Co. Inc. grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 30.9% during the first quarter, HoldingsChannel reports. The firm owned 34,842 shares of the electric vehicle automaker’s stock after buying an additional 8,231 shares during the period. Oppenheimer & Co. Inc.’s holdings in Rivian Automotive were worth $434,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. PFS Partners LLC raised its stake in Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker’s stock worth $25,000 after buying an additional 1,882 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Rivian Automotive during the 4th quarter worth about $34,000. Quarry LP acquired a new stake in Rivian Automotive during the 4th quarter worth about $38,000. AllSquare Wealth Management LLC raised its position in shares of Rivian Automotive by 8,794.1% in the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker’s stock worth $40,000 after acquiring an additional 2,990 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of Rivian Automotive by 81.4% in the 1st quarter. AdvisorNet Financial Inc now owns 3,792 shares of the electric vehicle automaker’s stock valued at $47,000 after purchasing an additional 1,702 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Trading Down 2.0%

RIVN opened at $13.47 on Wednesday. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $18.86. The firm has a market capitalization of $15.23 billion, a PE ratio of -3.62 and a beta of 1.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.73 and a quick ratio of 2.80. The company’s 50-day moving average is $14.18 and its 200 day moving average is $13.16.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.23. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $981.52 million. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.48) EPS. As a group, research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 107,144 shares of Rivian Automotive stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $15.25, for a total transaction of $1,633,946.00. Following the transaction, the chief executive officer directly owned 1,483,111 shares of the company’s stock, valued at $22,617,442.75. The trade was a 6.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Claire Mcdonough sold 17,185 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.39, for a total transaction of $264,477.15. Following the completion of the sale, the chief financial officer owned 824,875 shares of the company’s stock, valued at approximately $12,694,826.25. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,836 shares of company stock worth $4,357,459. 2.16% of the stock is owned by insiders.

Analyst Ratings Changes

RIVN has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on Rivian Automotive from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Jefferies Financial Group restated a “hold” rating and set a $16.00 price target on shares of Rivian Automotive in a report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price objective on shares of Rivian Automotive from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, April 25th. Cowen started coverage on shares of Rivian Automotive in a research note on Thursday, March 6th. They issued a “hold” rating for the company. Finally, TD Cowen started coverage on shares of Rivian Automotive in a research note on Friday, March 7th. They set a “hold” rating and a $12.70 target price on the stock. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.38.

About Rivian Automotive

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.