Caprock Group LLC Makes New Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Caprock Group LLC acquired a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 10,608 shares of the electric vehicle automaker’s stock, valued at approximately $141,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. John G Ullman & Associates Inc. lifted its position in shares of Rivian Automotive by 9.1% during the third quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after purchasing an additional 1,000 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Rivian Automotive by 63.2% in 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 period. Tradition Wealth Management LLC grew its holdings in Rivian Automotive by 11.9% during the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock worth $132,000 after acquiring an additional 1,250 shares in the last quarter. Blue Trust Inc. raised its stake in Rivian Automotive by 40.3% in the third quarter. Blue Trust Inc. now owns 4,531 shares of the electric vehicle automaker’s stock worth $51,000 after buying an additional 1,301 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Rivian Automotive by 40.4% in the third quarter. GAMMA Investing LLC now owns 4,871 shares of the electric vehicle automaker’s stock valued at $55,000 after purchasing an additional 1,401 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $12.48 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The stock’s 50 day simple moving average is $13.51 and its 200-day simple moving average is $12.74. The company has a market cap of $12.74 billion, a PE ratio of -2.23 and a beta of 2.04. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $18.85.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive 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 transaction, the chief financial officer now 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. In the last ninety days, insiders sold 363,142 shares of company stock valued at $4,958,860. 2.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RIVN shares. Barclays upped their price target on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Benchmark initiated coverage on Rivian Automotive in a research note on Monday, December 9th. They issued a “buy” rating and a $18.00 price objective for the company. Mizuho cut their price objective on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. The Goldman Sachs Group boosted their target price on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus cut their price target on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.13.

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.