Jones Financial Companies Lllp Acquires 12,014 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Jones Financial Companies Lllp lifted its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 91.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,202 shares of the electric vehicle automaker’s stock after purchasing an additional 12,014 shares during the quarter. Jones Financial Companies Lllp’s holdings in Rivian Automotive were worth $335,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. increased its stake in Rivian Automotive by 52.5% in the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after acquiring an additional 17,341,786 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Rivian Automotive by 79.2% in 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 acquiring an additional 2,035,831 shares during the last quarter. Alberta Investment Management Corp bought a new position in Rivian Automotive in the fourth quarter valued at approximately $6,648,000. Virtu Financial LLC bought a new position in Rivian Automotive in the third quarter valued at approximately $4,184,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Rivian Automotive in the fourth quarter valued at approximately $4,036,000. 66.25% of the stock is owned by institutional investors.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now directly owns 351,900 shares of the company’s stock, valued at approximately $5,278,500. The trade was a 4.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $13,960,547.37. This trade represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,357 shares of company stock worth $3,988,140 over the last quarter. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Price Performance

RIVN stock opened at $10.78 on Wednesday. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of -2.28 and a beta of 2.03. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $18.86. The company’s fifty day simple moving average is $13.01 and its 200 day simple moving average is $12.34.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on RIVN shares. Benchmark started coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 target price on the stock. Bank of America cut shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $13.00 to $10.00 in a research note on Monday, February 24th. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 target price (down previously from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. TD Cowen started coverage on shares of Rivian Automotive in a research note on Friday, March 7th. They set a “hold” rating and a $12.70 target price on the stock. Finally, UBS Group boosted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Rivian Automotive has a consensus rating of “Hold” and an average target price of $14.73.

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.