82,200 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by Segantii Capital Management Ltd

Segantii Capital Management Ltd acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 82,200 shares of the electric vehicle automaker’s stock, valued at approximately $1,928,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $40,000. Charles Schwab Investment Management Inc. increased its stake in shares of Rivian Automotive by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,393,539 shares of the electric vehicle automaker’s stock worth $56,152,000 after acquiring an additional 111,512 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Rivian Automotive by 36.9% during the 4th quarter. Metis Global Partners LLC now owns 67,277 shares of the electric vehicle automaker’s stock worth $1,578,000 after acquiring an additional 18,145 shares during the period. TCG Advisory Services LLC boosted its position in shares of Rivian Automotive by 34.4% during the 4th quarter. TCG Advisory Services LLC now owns 11,396 shares of the electric vehicle automaker’s stock valued at $267,000 after acquiring an additional 2,919 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at about $330,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Insider Transactions at Rivian Automotive

In other news, insider Kjell Gruner sold 19,935 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the transaction, the insider now directly owns 407,787 shares in the company, valued at $5,223,751.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Jeff Baker sold 31,425 shares of the company’s 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 transaction, the chief accounting officer now directly owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total transaction of $255,367.35. Following the transaction, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,306 shares of company stock worth $717,274. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

RIVN has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Rivian Automotive in a report on Wednesday. Evercore ISI reduced their target price on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Cantor Fitzgerald cut their price objective on Rivian Automotive from $23.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $15.00 target price on shares of Rivian Automotive in a research report on Tuesday, April 2nd. Finally, Bank of America dropped their price target on shares of Rivian Automotive from $40.00 to $25.00 and set a “buy” rating for the company in a research report 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Rivian Automotive Stock Down 0.5 %

Shares of NASDAQ RIVN traded down $0.05 during midday trading on Thursday, hitting $10.22. 31,062,558 shares of the company’s stock were exchanged, compared to its average volume of 42,646,848. The firm’s fifty day simple moving average is $10.35 and its 200-day simple moving average is $15.00. The company has a market cap of $9.99 billion, a PE ratio of -1.77 and a beta of 1.91. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $28.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.95 and a quick ratio of 3.90.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.28 billion. Research analysts predict that Rivian Automotive, Inc. will post -4.77 EPS for the current fiscal 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.