Blue Trust Inc. Has $102,000 Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Blue Trust Inc. increased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 68.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,640 shares of the electric vehicle automaker’s stock after purchasing an additional 3,109 shares during the quarter. Blue Trust Inc.’s holdings in Rivian Automotive were worth $102,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Rivian Automotive during the 3rd quarter worth $28,000. GHP Investment Advisors Inc. lifted its position in shares of Rivian Automotive by 63.2% during the 3rd 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% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares during the period. Hantz Financial Services Inc. grew its holdings 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 buying an additional 2,900 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Rivian Automotive during the third quarter worth approximately $44,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Up 0.2 %

NASDAQ RIVN opened at $12.80 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 $18.85. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of -2.29 and a beta of 2.04. The stock’s 50 day moving average price is $13.51 and its two-hundred day moving average price is $12.74.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RIVN. Royal Bank of Canada lowered their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price target on the stock. Mizuho cut their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Rivian Automotive in a research report on Monday, January 6th. Finally, UBS Group upped their price target on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.13.

Insider Buying and Selling

In other news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total transaction of $491,410.88. Following the completion of the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,879,847.36. This represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 363,142 shares of company stock worth $4,958,860. Corporate insiders own 2.51% of the company’s stock.

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.