Signaturefd LLC Has $602,000 Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Signaturefd LLC boosted its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,645 shares of the electric vehicle automaker’s stock after buying an additional 1,420 shares during the period. Signaturefd LLC’s holdings in Rivian Automotive were worth $602,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Rivian Automotive by 0.6% during the third quarter. Vanguard Group Inc. now owns 63,845,364 shares of the electric vehicle automaker’s stock worth $1,550,165,000 after buying an additional 408,677 shares in the last quarter. Morgan Stanley grew its stake in Rivian Automotive by 14.0% during the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock worth $235,409,000 after buying an additional 1,193,650 shares in the last quarter. Northern Trust Corp grew its stake in Rivian Automotive by 14.8% during the third quarter. Northern Trust Corp now owns 4,235,291 shares of the electric vehicle automaker’s stock worth $102,833,000 after buying an additional 544,588 shares in the last quarter. Legal & General Group Plc grew its stake in Rivian Automotive by 10.0% during the third quarter. Legal & General Group Plc now owns 3,935,314 shares of the electric vehicle automaker’s stock worth $95,549,000 after buying an additional 358,512 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Rivian Automotive by 228.5% during the third quarter. Wellington Management Group LLP now owns 3,630,315 shares of the electric vehicle automaker’s stock worth $88,144,000 after buying an additional 2,525,142 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the sale, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the sale, the chief financial officer now owns 155,749 shares in the company, valued at approximately $2,523,133.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The disclosure for this sale can be found here. Insiders sold 54,306 shares of company stock worth $717,274 in the last quarter. 2.30% of the stock is owned by corporate insiders.

Rivian Automotive Stock Up 2.8 %

Rivian Automotive stock opened at $9.04 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.90 and a current ratio of 4.95. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $28.06. The firm has a 50 day moving average price of $11.39 and a two-hundred day moving average price of $15.77. The firm has a market cap of $8.84 billion, a price-to-earnings ratio of -1.57 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Equities analysts predict that Rivian Automotive, Inc. will post -4.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RIVN. Jefferies Financial Group began coverage on shares of Rivian Automotive in a research note on Thursday, March 7th. They set a “buy” rating and a $16.00 price objective on the stock. Needham & Company LLC reduced their price target on shares of Rivian Automotive from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Piper Sandler upgraded shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and raised their price target for the company from $15.00 to $21.00 in a research note on Friday, March 15th. JPMorgan Chase & Co. downgraded shares of Rivian Automotive from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $20.00 to $11.00 in a research note on Thursday, February 22nd. Finally, Bank of America reduced their price target on shares of Rivian Automotive from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.61.

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.