Oppenheimer & Co. Inc. Has $354,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Oppenheimer & Co. Inc. increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,611 shares of the electric vehicle automaker’s stock after buying an additional 1,160 shares during the period. Oppenheimer & Co. Inc.’s holdings in Rivian Automotive were worth $354,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. John G Ullman & Associates Inc. boosted its position in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after buying an additional 1,000 shares during the period. RFG Holdings Inc. boosted its position in Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock worth $296,000 after buying an additional 1,096 shares during the period. Tradition Wealth Management LLC boosted its position 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 buying an additional 1,250 shares during the period. World Investment Advisors LLC boosted its position in Rivian Automotive by 8.6% during the 3rd quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker’s stock worth $204,000 after buying an additional 1,446 shares during the period. Finally, First Pacific Financial boosted its position in Rivian Automotive by 4.1% during the 4th quarter. First Pacific Financial now owns 37,189 shares of the electric vehicle automaker’s stock worth $495,000 after buying an additional 1,449 shares during the period. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $11.17 on Friday. The firm has a market capitalization of $12.63 billion, a PE ratio of -2.37 and a beta of 2.03. The firm has a fifty day simple moving average of $13.11 and a two-hundred day simple moving average of $12.38. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. Analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RIVN shares. Needham & Company LLC raised their price target on shares of Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Royal Bank of Canada lowered their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. TD Cowen started coverage on shares of Rivian Automotive in a report on Friday. They set a “hold” rating and a $12.70 price target for the company. Mizuho raised their price target on shares of Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Finally, Robert W. Baird restated a “neutral” rating and set a $16.00 price target (down previously from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.73.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive 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 transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,879,847.36. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the transaction, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. This represents a 4.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,357 shares of company stock valued at $3,988,140 in the last three months. 2.51% of the stock is currently owned by insiders.

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.