HB Wealth Management LLC Increases Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

HB Wealth Management LLC raised its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 174.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,274 shares of the electric vehicle automaker’s stock after purchasing an additional 40,256 shares during the period. HB Wealth Management LLC’s holdings in Rivian Automotive were worth $842,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Rivian Automotive by 79.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after buying an additional 2,035,831 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Rivian Automotive by 1,870.7% in the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after purchasing an additional 51,464 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Rivian Automotive by 30.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after purchasing an additional 124,950 shares during the period. Vontobel Holding Ltd. raised its holdings in Rivian Automotive by 543.8% in the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock valued at $1,601,000 after buying an additional 120,544 shares during the period. Finally, Renaissance Capital LLC lifted its position in Rivian Automotive by 20.0% during the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock valued at $9,958,000 after buying an additional 148,197 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $16.17, for a total transaction of $1,155,006.93. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $13,960,547.37. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,429 shares of company stock worth $4,467,450 over the last ninety days. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Trading Down 6.5 %

NASDAQ RIVN opened at $13.29 on Wednesday. The firm has a market capitalization of $13.56 billion, a PE ratio of -2.37 and a beta of 2.05. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85. The company has a 50-day simple moving average of $13.08 and a 200-day simple moving average of $13.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RIVN. Barclays dropped their price objective on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Guggenheim cut their price objective on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Truist Financial upped their target price on Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Piper Sandler lowered their price objective on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.48.

Rivian Automotive Company 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.