Bank of Jackson Hole Trust Invests $27,000 in Rivian Automotive, Inc. (NASDAQ:RIVN)

Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,053 shares of the electric vehicle automaker’s stock, valued at approximately $27,000.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after buying an additional 2,035,831 shares during the period. International Assets Investment Management LLC increased its holdings in Rivian Automotive by 1,870.7% during the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after buying an additional 51,464 shares during the period. Mizuho Markets Americas LLC increased its holdings in Rivian Automotive by 30.7% during the third quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after buying an additional 124,950 shares during the period. SG Americas Securities LLC increased its holdings in Rivian Automotive by 42.7% during the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock valued at $2,404,000 after buying an additional 54,053 shares during the period. Finally, Entropy Technologies LP purchased a new position in Rivian Automotive during the fourth quarter valued at approximately $1,317,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $13,960,547.37. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 366,788 shares of company stock worth $5,024,431 over the last three months. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Trading Down 2.3 %

NASDAQ RIVN opened at $13.61 on Friday. The company has a market capitalization of $13.89 billion, a PE ratio of -2.43 and a beta of 2.04. The company has a fifty day moving average of $13.59 and a 200 day moving average of $12.54. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 121.38% and a negative return on equity of 72.78%. Research analysts forecast that Rivian Automotive, Inc. will post -4.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RIVN. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of Rivian Automotive in a report on Friday, November 8th. Mizuho lowered their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. UBS Group raised their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Royal Bank of Canada lowered their target price on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Rivian Automotive in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and an average price target of $15.13.

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.