19,750 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Bought by Natixis Advisors LLC

Natixis Advisors LLC acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,750 shares of the electric vehicle automaker’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Quest Partners LLC raised its holdings in shares of Rivian Automotive by 109.0% during the 3rd quarter. Quest Partners LLC now owns 13,945 shares of the electric vehicle automaker’s stock valued at $156,000 after buying an additional 7,273 shares during the period. Pathstone Holdings LLC raised its stake in shares of Rivian Automotive by 8.4% during the third quarter. Pathstone Holdings LLC now owns 118,237 shares of the electric vehicle automaker’s stock valued at $1,327,000 after purchasing an additional 9,187 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Rivian Automotive during the third quarter worth $570,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after purchasing an additional 2,035,831 shares during the period. Finally, Cerity Partners LLC grew its holdings in Rivian Automotive by 38.0% during the 3rd quarter. Cerity Partners LLC now owns 61,927 shares of the electric vehicle automaker’s stock valued at $695,000 after purchasing an additional 17,039 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of Rivian Automotive stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 35,713 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total transaction of $491,410.88. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 185,427 shares of company stock worth $2,588,475. Company insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler lowered Rivian Automotive from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $13.00 in a research note on Thursday, March 20th. Barclays upped their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. Finally, Bank of America downgraded shares of Rivian Automotive from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $13.00 to $10.00 in a research report on Monday, February 24th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.38.

Rivian Automotive Stock Performance

Shares of RIVN opened at $12.41 on Friday. The firm has a fifty day moving average of $12.26 and a 200-day moving average of $12.14. The company has a market cap of $14.03 billion, a price-to-earnings ratio of -2.63 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. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86.

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

Rivian Automotive 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.