SBI Securities Co. Ltd. Makes New $1.38 Million Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

SBI Securities Co. Ltd. bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,937 shares of the electric vehicle automaker’s stock, valued at approximately $1,382,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its position in Rivian Automotive by 91.1% in the 4th quarter. Jones Financial Companies Lllp now owns 25,202 shares of the electric vehicle automaker’s stock worth $335,000 after purchasing an additional 12,014 shares during the period. SRS Capital Advisors Inc. raised its holdings in shares of Rivian Automotive by 309.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 8,352 shares of the electric vehicle automaker’s stock worth $111,000 after buying an additional 6,312 shares during the period. Metis Global Partners LLC lifted its stake in shares of Rivian Automotive by 6.9% during the 4th quarter. Metis Global Partners LLC now owns 123,086 shares of the electric vehicle automaker’s stock worth $1,637,000 after acquiring an additional 7,922 shares during the last quarter. Versor Investments LP purchased a new position in Rivian Automotive during the 4th quarter valued at $298,000. Finally, Proficio Capital Partners LLC bought a new position in Rivian Automotive in the 4th quarter valued at $487,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $11.84 on Monday. The firm’s fifty day simple moving average is $13.32 and its two-hundred day simple moving average is $12.43. The firm has a market capitalization of $13.39 billion, a P/E ratio of -2.51 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 $18.86.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RIVN. Robert W. Baird reiterated a “neutral” rating and set a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Royal Bank of Canada decreased their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Guggenheim dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler lowered their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.87.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 18,501 shares of Rivian Automotive stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.00, for a total value of $277,515.00. Following the completion of the sale, the chief financial officer now directly owns 351,900 shares in the company, valued at $5,278,500. This trade represents a 4.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $13.88, for a total transaction of $991,434.52. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $11,983,450.68. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,357 shares of company stock worth $3,988,140. Insiders own 2.51% of the company’s stock.

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.