Sanctuary Advisors LLC Purchases 3,681 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Sanctuary Advisors LLC grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,675 shares of the electric vehicle automaker’s stock after buying an additional 3,681 shares during the quarter. Sanctuary Advisors LLC’s holdings in Rivian Automotive were worth $457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GHP Investment Advisors Inc. lifted its stake in 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 purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC boosted its stake in Rivian Automotive by 267.6% in the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after buying an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. grew its position in Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 2,900 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Rivian Automotive during the second quarter worth about $37,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Rivian Automotive in the 3rd quarter valued at approximately $44,000. Institutional investors own 66.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RIVN. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $14.00 price objective on shares of Rivian Automotive in a research note on Tuesday, September 10th. The Goldman Sachs Group boosted their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Barclays cut their price target on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Robert W. Baird reiterated a “neutral” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Finally, Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Rivian Automotive in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.74.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 256,000 shares of company stock valued at $3,312,443 over the last ninety days. 2.51% of the stock is owned by company insiders.

Rivian Automotive Stock Down 0.1 %

Shares of NASDAQ:RIVN opened at $14.04 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $24.30. The business’s 50 day simple moving average is $11.66 and its two-hundred day simple moving average is $12.82. The firm has a market cap of $14.33 billion, a P/E ratio of -2.51 and a beta of 2.12.

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.