41,789 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 41,789 shares of the electric vehicle automaker’s stock, valued at approximately $556,000.

Several other large investors have also recently bought and sold shares of RIVN. Sanctuary Advisors LLC purchased a new stake in shares of Rivian Automotive in the second quarter worth $550,000. GAMMA Investing LLC raised its holdings in shares of Rivian Automotive by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,871 shares of the electric vehicle automaker’s stock valued at $55,000 after acquiring an additional 1,401 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in shares of Rivian Automotive in the 3rd quarter valued at about $128,000. CWM LLC boosted its position in shares of Rivian Automotive by 15.6% during the 3rd quarter. CWM LLC now owns 46,116 shares of the electric vehicle automaker’s stock valued at $517,000 after acquiring an additional 6,234 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Rivian Automotive by 1,180.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,400 shares of the electric vehicle automaker’s stock worth $72,000 after purchasing an additional 5,900 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Stock Down 4.2 %

Shares of NASDAQ RIVN opened at $12.44 on Wednesday. The firm has a fifty day simple moving average of $13.54 and a two-hundred day simple moving average of $12.60. The firm has a market capitalization of $12.70 billion, a PE ratio of -2.22 and a beta of 2.04. 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, Inc. has a 12 month low of $8.26 and a 12 month high of $18.85.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00. Following the completion of the transaction, the chief financial officer now directly owns 351,900 shares of the company’s stock, valued at $5,278,500. This trade represents a 4.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert J. Scaringe sold 35,713 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total transaction of $491,410.88. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,879,847.36. The trade was a 3.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 363,142 shares of company stock valued at $4,958,860 over the last three months. Corporate insiders own 2.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays raised their target price on shares of Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 price objective (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Baird R W cut Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Rivian Automotive has an average rating of “Hold” and an average price target of $15.13.

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.