Siemens Fonds Invest GmbH Acquires Shares of 10,938 Rivian Automotive, Inc. (NASDAQ:RIVN)

Siemens Fonds Invest GmbH acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 10,938 shares of the electric vehicle automaker’s stock, valued at approximately $145,000.

Several other hedge funds also recently bought and sold shares of the business. Dimension Capital Management LLC grew its position in Rivian Automotive by 5.5% in the 4th quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker’s stock valued at $208,000 after acquiring an additional 819 shares during the last quarter. Tradition Wealth Management LLC grew its position in Rivian Automotive by 7.2% in the 4th quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker’s stock valued at $168,000 after acquiring an additional 849 shares during the last quarter. RFG Holdings Inc. grew its position in Rivian Automotive by 5.2% in the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock valued at $296,000 after acquiring an additional 1,096 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Rivian Automotive by 4.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock valued at $354,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Freestone Capital Holdings LLC grew its position in Rivian Automotive by 4.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker’s stock valued at $390,000 after acquiring an additional 1,164 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $11.82, for a total value of $844,290.78. Following the completion of the transaction, the chief executive officer now directly owns 853,011 shares in the company, valued at $10,082,590.02. This trade represents a 7.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 9,937 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total value of $149,055.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,364 shares of company stock worth $2,303,960. 2.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RIVN. TD Cowen began coverage on Rivian Automotive in a research report on Friday, March 7th. They set a “hold” rating and a $12.70 price target on the stock. Cowen began coverage on Rivian Automotive in a research report on Thursday, March 6th. They set a “hold” rating on the stock. Sanford C. Bernstein began coverage on Rivian Automotive in a research report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price target on the stock. UBS Group increased their price target on Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price target on shares of Rivian Automotive in a research report on Tuesday, March 18th. Three equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and an average target price of $14.24.

Rivian Automotive Trading Up 3.3%

Rivian Automotive stock opened at $15.81 on Monday. The stock has a 50-day moving average of $12.39 and a two-hundred day moving average of $12.53. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a one year low of $9.50 and a one year high of $18.86. The stock has a market cap of $17.88 billion, a PE ratio of -3.35 and a beta of 1.86.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.06. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.43 billion. On average, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS 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.