Nissay Asset Management Corp Japan ADV Purchases 1,265 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Nissay Asset Management Corp Japan ADV raised its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,300 shares of the electric vehicle automaker’s stock after purchasing an additional 1,265 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Rivian Automotive were worth $1,246,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Tandem Financial LLC bought a new stake in shares of Rivian Automotive during the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust bought a new stake in shares of Rivian Automotive during the 4th quarter valued at about $27,000. Bear Mountain Capital Inc. grew its stake in shares of Rivian Automotive by 208.0% during the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after purchasing an additional 1,932 shares during the period. Quarry LP bought a new stake in shares of Rivian Automotive during the 4th quarter valued at about $38,000. Finally, AllSquare Wealth Management LLC grew its stake in shares of Rivian Automotive by 8,794.1% during the 4th quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker’s stock valued at $40,000 after purchasing an additional 2,990 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Claire Mcdonough sold 9,937 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total transaction of $149,055.00. Following the transaction, the chief financial officer now owns 851,637 shares of the company’s stock, valued at approximately $12,774,555. The trade was a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 35,713 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $11.46, for a total value of $409,270.98. Following the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at approximately $9,775,506.06. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,364 shares of company stock valued at $2,303,960. 2.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RIVN has been the subject of a number of recent research reports. Wedbush cut their price target on Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company lowered their price objective on Rivian Automotive from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Mizuho lifted their price objective on Rivian Automotive from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday. UBS Group lifted their price objective on Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus lifted their price objective on Rivian Automotive from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.24.

Rivian Automotive Stock Up 3.3%

Shares of RIVN opened at $15.81 on Monday. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of -3.35 and a beta of 1.86. Rivian Automotive, Inc. has a 1 year low of $9.50 and a 1 year high of $18.86. The business’s 50 day simple moving average is $12.39 and its 200-day simple moving average is $12.53. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. As a group, equities analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal 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.