Sloy Dahl & Holst LLC Makes New Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Sloy Dahl & Holst LLC bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 442,192 shares of the electric vehicle automaker’s stock, valued at approximately $10,374,000. Rivian Automotive comprises approximately 2.1% of Sloy Dahl & Holst LLC’s investment portfolio, making the stock its 4th biggest position.

Several other hedge funds have also added to or reduced their stakes in RIVN. Sunbelt Securities Inc. raised its stake in shares of Rivian Automotive by 195.0% in the second quarter. Sunbelt Securities Inc. now owns 1,475 shares of the electric vehicle automaker’s stock worth $25,000 after purchasing an additional 975 shares during the last quarter. Bear Mountain Capital Inc. purchased a new position in shares of Rivian Automotive in the fourth quarter worth $26,000. Ancora Advisors LLC purchased a new position in shares of Rivian Automotive in the third quarter worth $27,000. MCF Advisors LLC raised its stake in shares of Rivian Automotive by 396.8% in the third quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock worth $30,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in shares of Rivian Automotive in the fourth quarter worth $30,000. 66.25% of the stock is owned by institutional investors.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jeff Baker sold 31,425 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the transaction, 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. Over the last three months, insiders sold 54,306 shares of company stock valued at $717,274. Insiders own 2.30% of the company’s stock.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN traded up $0.15 during mid-day trading on Wednesday, reaching $8.86. The company’s stock had a trading volume of 8,612,292 shares, compared to its average volume of 43,140,129. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. The stock has a fifty day moving average of $11.98 and a two-hundred day moving average of $16.14. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. On average, analysts anticipate that Rivian Automotive, Inc. will post -4.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on RIVN shares. Mizuho reiterated a “neutral” rating and set a $12.00 price objective on shares of Rivian Automotive in a research report on Monday, March 25th. Morgan Stanley reduced their price objective 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. DA Davidson reduced their price objective on Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. The Goldman Sachs Group reduced their price objective on Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Finally, Truist Financial reiterated a “hold” rating and set a $11.00 price objective on shares of Rivian Automotive in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.91.

Rivian Automotive Company 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.