Banque Cantonale Vaudoise Buys 12,196 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Banque Cantonale Vaudoise increased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 239.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,296 shares of the electric vehicle automaker’s stock after acquiring an additional 12,196 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Rivian Automotive were worth $420,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. WFA of San Diego LLC acquired a new position in Rivian Automotive during the 2nd quarter valued at approximately $25,000. Sunbelt Securities Inc. increased its stake in Rivian Automotive by 195.0% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,475 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 975 shares in the last quarter. MCF Advisors LLC increased its stake in Rivian Automotive by 396.8% during the 3rd quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in Rivian Automotive during the 4th quarter valued at approximately $30,000. Finally, First Horizon Advisors Inc. increased its stake in Rivian Automotive by 1,537.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock valued at $32,000 after purchasing an additional 1,245 shares in the last quarter. Institutional investors own 62.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC cut their price objective on shares of Rivian Automotive from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $19.00 price objective (down previously from $29.00) on shares of Rivian Automotive in a research note on Wednesday, January 17th. Barclays cut their price objective on shares of Rivian Automotive from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Wells Fargo & Company cut their price objective on shares of Rivian Automotive from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 8th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Rivian Automotive in a report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive has a consensus rating of “Moderate Buy” and an average target price of $27.24.

View Our Latest Stock Report on RIVN

Rivian Automotive Price Performance

Shares of RIVN opened at $15.17 on Thursday. Rivian Automotive, Inc. has a 1-year low of $11.68 and a 1-year high of $28.06. The stock has a market cap of $14.53 billion, a PE ratio of -2.52 and a beta of 2.07. The firm has a 50-day simple moving average of $18.96 and a two-hundred day simple moving average of $20.03. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.61 and a quick ratio of 3.64.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last announced its earnings results on Tuesday, November 7th. The electric vehicle automaker reported ($1.44) earnings per share for the quarter, topping the consensus estimate of ($1.61) by $0.17. Rivian Automotive had a negative net margin of 148.97% and a negative return on equity of 42.17%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned ($1.57) EPS. The firm’s revenue for the quarter was up 149.4% on a year-over-year basis. As a group, analysts forecast that Rivian Automotive, Inc. will post -5.96 EPS for the current year.

Insiders Place Their Bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,265 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $17.08, for a total transaction of $55,766.20. Following the completion of the transaction, the chief financial officer now owns 173,030 shares in the company, valued at approximately $2,955,352.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Rivian Automotive Profile

(Free Report)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.

Further Reading

Want to see what other hedge funds are holding RIVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rivian Automotive, Inc. (NASDAQ:RIVNFree Report).

Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

Receive News & Ratings for Rivian Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rivian Automotive and related companies with MarketBeat.com's FREE daily email newsletter.