Asset Management One Co. Ltd. Purchases 34,948 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Asset Management One Co. Ltd. grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 13.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 294,468 shares of the electric vehicle automaker’s stock after acquiring an additional 34,948 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Rivian Automotive were worth $4,019,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Rivian Automotive by 79.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after buying an additional 2,035,831 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Rivian Automotive by 1,870.7% in the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after buying an additional 51,464 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of Rivian Automotive by 30.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after buying an additional 124,950 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Rivian Automotive by 42.7% in the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock worth $2,404,000 after buying an additional 54,053 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Rivian Automotive in the 4th quarter worth approximately $1,317,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Down 3.5 %

NASDAQ:RIVN opened at $13.93 on Thursday. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $18.85. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $14.22 billion, a P/E ratio of -2.49 and a beta of 2.04. The stock’s fifty day simple moving average is $13.60 and its 200-day simple moving average is $12.53.

Analysts Set New Price Targets

RIVN has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Benchmark initiated coverage on Rivian Automotive in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a report on Friday, November 8th. Barclays raised their price target on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price target on shares of Rivian Automotive in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.13.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,784,877.65. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 366,788 shares of company stock worth $5,024,431 in the last three months. Insiders own 2.51% of the company’s stock.

About Rivian Automotive

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.