Metis Global Partners LLC Purchases 18,145 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Metis Global Partners LLC grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 36.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,277 shares of the electric vehicle automaker’s stock after buying an additional 18,145 shares during the period. Metis Global Partners LLC’s holdings in Rivian Automotive were worth $1,578,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RIVN. Federated Hermes Inc. boosted its position in shares of Rivian Automotive by 8.2% during the fourth quarter. Federated Hermes Inc. now owns 8,559 shares of the electric vehicle automaker’s stock worth $201,000 after buying an additional 651 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of Rivian Automotive by 5.3% in the third quarter. Moneta Group Investment Advisors LLC now owns 13,335 shares of the electric vehicle automaker’s stock worth $324,000 after purchasing an additional 668 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in Rivian Automotive by 10.8% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 7,446 shares of the electric vehicle automaker’s stock worth $175,000 after purchasing an additional 727 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Rivian Automotive by 13.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,416 shares of the electric vehicle automaker’s stock valued at $156,000 after purchasing an additional 775 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Rivian Automotive by 86.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker’s stock worth $40,000 after acquiring an additional 784 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Insider Buying and Selling

In other news, insider Kjell Gruner sold 19,935 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares in the company, valued at approximately $5,223,751.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock worth $717,274 in the last three months. 2.30% of the stock is owned by corporate insiders.

Rivian Automotive Stock Performance

Shares of NASDAQ:RIVN opened at $10.25 on Wednesday. The company’s 50 day simple moving average is $10.37 and its 200 day simple moving average is $15.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $28.06. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -1.79 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. As a group, research analysts predict that Rivian Automotive, Inc. will post -4.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RIVN shares. Morgan Stanley lowered their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Robert W. Baird reduced their price target on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. The Goldman Sachs Group cut 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price target on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.52.

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.