Sapient Capital LLC Invests $330,000 in Rivian Automotive, Inc. (NASDAQ:RIVN)

Sapient Capital LLC acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ: RIVN – Free Report) in the fourth quarter, Holdings Channel.com report. The fund acquired 14,059 shares of the electric vehicle maker’s stock, valued at approximately $330,000.

Several other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC acquired a new stake in Rivian Automotive in the 4th quarter valued at $228,175,000. State Street Corp boosted its holdings in Rivian Automotive by 145.5% in the 3rd quarter. State Street Corp now owns 9,064,249 shares of the electric vehicle maker’s stock valued at $298,304,000 after buying an additional 5,371,852 shares in the last quarter . Norges Bank acquired a new stake in Rivian Automotive during the 4th quarter valued at $85,590,000. Wellington Management Group LLP boosted its stake in Rivian Automotive by 228.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,630,315 shares of the electric vehicle maker’s stock valued at $88,144,000 after purchasing an additional 2,525,142 shares during the last quarter. . Finally, BlackRock Inc. increased its holdings in Rivian Automotive by 2.9% in the 1st quarter. BlackRock Inc. now owns 50,903,971 shares of the electric vehicle maker’s stock valued at $787,993,000 after purchasing an additional 1,443,514 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s shares.

Rivian Auto Business Drops 4.6%

Shares of NASDAQ: RIVN opened at 9.13 US Dollar. The company has a debt to equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. The business has a 50-day moving average of $12.25 and a 200-day moving average of $16.35. Rivian Automotive, Inc. it has a 12-month low of $9.08 and a 12-month high of $28.06.

Rivian Cars (NASDAQ: RIVN – Get a Free Report) issued its last quarterly earnings results on Wednesday, February 21. The electric vehicle maker reported ($1.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.67) by $0.09. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative margin of 122.51%. On average, stock analysts predict that Rivian Automotive, Inc. will post -4.8 earnings per share for the current year.

Internal Affairs at Rivian Automotive

Information related to CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction that occurred on Friday, February 16. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the sale, the chief financial officer now directly owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the company’s stock in a transaction dated Friday, February 16. The stock sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the sale, the chief financial officer now directly owns 155,749 shares in the company, valued at $2,523,133.80. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed via SEC website. Also, CAO Jeff Baker sold 31,425 shares of the company’s stock in a transaction on Monday, March 11. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at $690,829.70. A disclosure of this marketing can be found here. Over the last ninety days, insiders sold 54,306 shares of company stock valued at $717,274. Company insiders own 2.30% of the company’s shares.

Wall Street Analyst Weighs In

Several analysts recently commented on RIVN shares. Evercore ISI decreased their price objective on Rivian Automotive from $35.00 to $25.00 and set a “market outperform” rating in a research note on Thursday, February 22nd. Robert W. Baird decreased their price objective on Rivian Automotive from $30.00 to $23.00. and set an “outperform” rating for the company in a research report on Thursday, February 22. Bank of America cut their price target on Rivian Automotive from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 22. Barclays reduced their price objective on Rivian Automotive from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, February 26. Finally, Morgan Stanley reduced their price objective on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, April 4. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to shares. According to MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and a consensus price target of $19.87.

See our Latest Stock Report on RIVN

Profile of Rivian Motor Company

(Free Report)

Rivian Automotive, Inc., together with its subsidiaries, designs, develops, manufactures and markets automobiles and electrical equipment. The company offers consumer vehicles, including a five-passenger two-row pickup truck under the R1T brand, a three-row seven-passenger sport utility vehicle under the R1S name.

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