2,251,398 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by Twinbeech Capital LP

Twinbeech Capital LP bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,251,398 shares of the electric vehicle automaker’s stock, valued at approximately $29,944,000. Twinbeech Capital LP owned 0.22% of Rivian Automotive as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Rivian Automotive by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker’s stock valued at $63,055,000 after acquiring an additional 133,781 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $1,363,000. Groupama Asset Managment acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $26,600,000. SG Americas Securities LLC boosted its holdings in shares of Rivian Automotive by 42.7% in the fourth quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock valued at $2,404,000 after acquiring an additional 54,053 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $10,448,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Trading Up 3.3%

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

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data 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 net margin of 95.51% and a negative return on equity of 66.26%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.43 billion. Research analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. The trade was a 2.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $11.46, for a total value of $409,270.98. Following the sale, the chief executive officer now owns 853,011 shares of the company’s stock, valued at $9,775,506.06. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,364 shares of company stock valued at $2,303,960 in the last 90 days. 2.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RIVN shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $15.00 price target on shares of Rivian Automotive in a report on Wednesday, May 7th. Sanford C. Bernstein started coverage on Rivian Automotive in a report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price target for the company. Cowen started coverage on Rivian Automotive in a report on Thursday, March 6th. They set a “hold” rating for the company. Robert W. Baird decreased their price target on Rivian Automotive from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Finally, Mizuho increased their price target on Rivian Automotive from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.24.

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.