Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.42 Million Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,800 shares of the electric vehicle automaker’s stock after selling 4,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Rivian Automotive were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. John G Ullman & Associates Inc. increased its position in Rivian Automotive by 9.1% during the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after buying an additional 1,000 shares during the last quarter. RFG Holdings Inc. increased its position in Rivian Automotive by 5.2% during the fourth quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock worth $296,000 after buying an additional 1,096 shares during the last quarter. Tradition Wealth Management LLC increased its position in Rivian Automotive by 11.9% during the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock worth $132,000 after buying an additional 1,250 shares during the last quarter. Blue Trust Inc. increased its position in Rivian Automotive by 40.3% during the third quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker’s stock worth $51,000 after buying an additional 1,301 shares during the last quarter. Finally, World Investment Advisors LLC increased its position in Rivian Automotive by 8.6% during the third quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker’s stock worth $204,000 after buying an additional 1,446 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Stock Down 0.4 %

NASDAQ RIVN opened at $11.40 on Thursday. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $13.39 and its two-hundred day moving average is $12.46. The company has a market capitalization of $11.64 billion, a price-to-earnings ratio of -2.42 and a beta of 2.04. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85.

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

Insider Activity

In other news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $13,960,547.37. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction that occurred 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 owns 335,076 shares of the company’s stock, valued at $4,778,183.76. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,357 shares of company stock worth $3,988,140. Insiders own 2.51% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RIVN. Benchmark initiated coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Robert W. Baird restated a “neutral” rating and set a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Sanford C. Bernstein initiated coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price target for the company. Barclays upped their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Finally, Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.87.

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.