Achmea Investment Management B.V. Purchases 193,511 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Achmea Investment Management B.V. raised its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 852.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,201 shares of the electric vehicle automaker’s stock after acquiring an additional 193,511 shares during the period. Achmea Investment Management B.V.’s holdings in Rivian Automotive were worth $2,876,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RIVN. Charles Schwab Investment Management Inc. boosted its position in shares of Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after buying an additional 2,035,831 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at $9,432,000. Alberta Investment Management Corp purchased a new stake in shares of Rivian Automotive during the fourth quarter valued at $6,648,000. Virtu Financial LLC purchased a new stake in shares of Rivian Automotive during the third quarter valued at $4,184,000. Finally, Great Lakes Advisors LLC purchased a new position in Rivian Automotive in the fourth quarter worth about $4,929,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on RIVN shares. Mizuho raised their target price on Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Cowen started coverage on Rivian Automotive in a research report on Thursday, March 6th. They issued a “hold” rating on the stock. Needham & Company LLC raised their target price on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Guggenheim dropped their target price on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, UBS Group raised their target price on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.73.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $10.75 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86. The stock’s 50 day simple moving average is $12.86 and its two-hundred day simple moving average is $12.30. The company has a market cap of $12.16 billion, a price-to-earnings ratio of -2.28 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. As a group, equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the completion of the transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $13.88, for a total value of $991,434.52. Following the completion of the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $11,983,450.68. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 203,928 shares of company stock valued at $3,013,134 in the last quarter. 2.51% of the stock is currently owned by insiders.

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.