Ieq Capital LLC Grows Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Ieq Capital LLC increased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 6.7% during the 4th quarter, HoldingsChannel reports. The firm owned 101,585 shares of the electric vehicle automaker’s stock after buying an additional 6,344 shares during the period. Ieq Capital LLC’s holdings in Rivian Automotive were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Rivian Automotive by 79.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after buying an additional 2,035,831 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Rivian Automotive by 1,870.7% in 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 acquiring an additional 51,464 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of Rivian Automotive by 30.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock valued at $5,964,000 after purchasing an additional 124,950 shares during the period. SG Americas Securities LLC increased its position in shares of Rivian Automotive by 42.7% during the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock valued at $2,404,000 after purchasing an additional 54,053 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in shares of Rivian Automotive in the 4th quarter worth approximately $6,648,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Down 7.8 %

NASDAQ RIVN opened at $11.96 on Tuesday. The stock has a 50 day moving average price of $13.49 and a 200-day moving average price of $12.48. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The company has a market capitalization of $12.21 billion, a P/E ratio of -2.53 and a beta of 2.04.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. As a group, equities analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RIVN. Needham & Company LLC boosted their target price on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday. Wedbush reissued an “outperform” rating and set a $20.00 price objective on shares of Rivian Automotive in a research report on Friday, November 8th. The Goldman Sachs Group raised their target price on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Benchmark initiated coverage on Rivian Automotive in a report on Monday, December 9th. They set a “buy” rating and a $18.00 price target for the company. Finally, Barclays raised their price objective on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.87.

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 transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at $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 available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,784,877.65. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,357 shares of company stock valued at $3,988,140. Insiders own 2.51% of the company’s stock.

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.