82,200 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by Segantii Capital Management Ltd

Segantii Capital Management Ltd acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 82,200 shares of the electric vehicle automaker’s stock, valued at approximately $1,928,000.

Several other institutional investors and hedge funds have also modified their holdings of RIVN. Wellington Management Group LLP grew its holdings in Rivian Automotive by 228.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,630,315 shares of the electric vehicle automaker’s stock worth $88,144,000 after acquiring an additional 2,525,142 shares during the last quarter. Morgan Stanley increased its holdings in shares of Rivian Automotive by 14.0% in the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after purchasing an additional 1,193,650 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Rivian Automotive by 38.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,282,027 shares of the electric vehicle automaker’s stock worth $55,408,000 after purchasing an additional 631,397 shares during the last quarter. Northern Trust Corp lifted its holdings in Rivian Automotive by 14.8% during the 3rd quarter. Northern Trust Corp now owns 4,235,291 shares of the electric vehicle automaker’s stock worth $102,833,000 after buying an additional 544,588 shares in the last quarter. Finally, Bamco Inc. NY boosted its position in Rivian Automotive by 25.4% in the 3rd quarter. Bamco Inc. NY now owns 2,531,751 shares of the electric vehicle automaker’s stock valued at $61,471,000 after buying an additional 512,495 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The shares were 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 owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock valued at $717,274 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group initiated coverage on Rivian Automotive in a report on Thursday, March 7th. They issued a “buy” rating and a $16.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Morgan Stanley cut their price objective 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. Stifel Nicolaus cut their price target on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Finally, Cantor Fitzgerald decreased their price objective on Rivian Automotive from $23.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Rivian Automotive Stock Down 0.5 %

RIVN stock traded down $0.05 during trading hours on Thursday, reaching $10.22. 31,062,558 shares of the stock were exchanged, compared to its average volume of 42,646,848. The firm’s 50-day moving average is $10.35 and its 200-day moving average is $15.00. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $28.06. The company has a market cap of $9.99 billion, a price-to-earnings ratio of -1.77 and a beta of 1.91. 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 (NASDAQ:RIVN) last posted its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. On average, equities research analysts expect that Rivian Automotive, Inc. will post -4.77 earnings per share for the current year.

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.