IFM Investors Pty Ltd Raises Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

IFM Investors Pty Ltd lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,868 shares of the electric vehicle automaker’s stock after buying an additional 2,985 shares during the period. IFM Investors Pty Ltd’s holdings in Rivian Automotive were worth $1,532,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Bear Mountain Capital Inc. bought a new position in Rivian Automotive during the 4th quarter valued at $26,000. Ancora Advisors LLC bought a new position in shares of Rivian Automotive during the third quarter valued at about $27,000. MCF Advisors LLC boosted its holdings in Rivian Automotive by 396.8% during the third quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock worth $30,000 after purchasing an additional 1,000 shares during the last quarter. First Horizon Advisors Inc. grew its position in Rivian Automotive by 1,537.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after purchasing an additional 1,245 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Rivian Automotive in the 4th quarter valued at about $33,000. Institutional investors own 66.25% of the company’s stock.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the sale, the chief financial officer now owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kjell Gruner sold 19,935 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now owns 407,787 shares in the company, valued at approximately $5,223,751.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,306 shares of company stock worth $717,274. Corporate insiders own 2.30% of the company’s stock.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock traded up $0.52 on Friday, reaching $9.04. The stock had a trading volume of 28,226,128 shares, compared to its average volume of 37,674,728. The business’s 50 day moving average is $10.83 and its two-hundred day moving average is $15.50. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $28.06. The company has a market cap of $8.84 billion, a P/E ratio of -1.57 and a beta of 1.88.

Rivian Automotive (NASDAQ:RIVN) last posted its 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 business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.28 billion. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -4.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RIVN. UBS Group upgraded Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 target price on the stock in a research note on Tuesday, April 16th. Piper Sandler upgraded Rivian Automotive from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $15.00 to $21.00 in a research note on Friday, March 15th. Mizuho reissued a “neutral” rating and issued a $12.00 price target on shares of Rivian Automotive in a report on Monday, March 25th. Robert W. Baird decreased their price objective on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Rivian Automotive in a research note on Thursday, March 7th. They issued a “buy” rating and a $16.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive presently has an average rating of “Moderate Buy” and a consensus price target 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.