HB Wealth Management LLC Increases Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

HB Wealth Management LLC grew its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 174.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,274 shares of the electric vehicle automaker’s stock after purchasing an additional 40,256 shares during the quarter. HB Wealth Management LLC’s holdings in Rivian Automotive were worth $842,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the 3rd quarter worth approximately $28,000. GHP Investment Advisors Inc. grew its position in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. American Capital Advisory LLC increased its holdings in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the period. Hantz Financial Services Inc. raised its position in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Rivian Automotive during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RIVN. Stifel Nicolaus reduced their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 11th. Barclays decreased their price objective on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $13.00 in a report on Friday, November 8th. Wells Fargo & Company decreased their price target on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Finally, UBS Group boosted their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.48.

Rivian Automotive Trading Down 6.5 %

Shares of Rivian Automotive stock opened at $13.29 on Wednesday. The business has a 50 day moving average price of $13.08 and a 200 day moving average price of $13.04. The company has a market capitalization of $13.56 billion, a P/E ratio of -2.37 and a beta of 2.05. 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 $18.85.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the sale, the chief financial officer now owns 351,900 shares of the company’s stock, valued at approximately $5,278,500. This trade represents a 4.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,429 shares of company stock valued at $4,467,450 over the last three months. 2.51% of the stock is currently owned by insiders.

Rivian Automotive 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.