Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,741,001 shares of the electric vehicle automaker’s stock after purchasing an additional 133,781 shares during the period. Charles Schwab Investment Management Inc. owned 0.46% of Rivian Automotive worth $63,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. John G Ullman & Associates Inc. boosted its stake 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 valued at $135,000 after purchasing an additional 1,000 shares during the period. RFG Holdings Inc. boosted its stake 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 valued at $296,000 after purchasing an additional 1,096 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock valued at $354,000 after purchasing an additional 1,160 shares during the period. Tradition Wealth Management LLC boosted its stake 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 valued at $132,000 after purchasing an additional 1,250 shares during the period. Finally, World Investment Advisors LLC boosted its stake 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 valued at $204,000 after purchasing an additional 1,446 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $13,960,547.37. This represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of the 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 owns 351,900 shares in the company, valued at approximately $5,278,500. This trade represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 203,928 shares of company stock worth $3,013,134. 2.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Truist Financial boosted their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Sanford C. Bernstein started coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Finally, Mizuho increased their price objective on shares of Rivian Automotive from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.73.

Rivian Automotive Stock Up 2.5 %

Shares of NASDAQ:RIVN opened at $11.06 on Thursday. The company has a market cap of $12.51 billion, a PE ratio of -2.34 and a beta of 2.03. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The firm has a 50 day simple moving average of $12.96 and a 200 day simple moving average of $12.32. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.06. The firm had revenue of $1.73 billion for 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%. As a group, research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

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.