Bleakley Financial Group LLC Increases Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Bleakley Financial Group LLC lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,646 shares of the electric vehicle automaker’s stock after acquiring an additional 4,045 shares during the period. Bleakley Financial Group LLC’s holdings in Rivian Automotive were worth $421,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RIVN. The Manufacturers Life Insurance Company lifted its holdings in shares of Rivian Automotive by 90.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,313 shares of the electric vehicle automaker’s stock worth $970,000 after acquiring an additional 34,303 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Rivian Automotive during the 2nd quarter worth about $550,000. GAMMA Investing LLC lifted its holdings in shares of Rivian Automotive by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,871 shares of the electric vehicle automaker’s stock worth $55,000 after acquiring an additional 1,401 shares during the period. Atomi Financial Group Inc. purchased a new position in shares of Rivian Automotive during the 3rd quarter worth about $128,000. Finally, CWM LLC increased its position in Rivian Automotive by 15.6% during the 3rd quarter. CWM LLC now owns 46,116 shares of the electric vehicle automaker’s stock worth $517,000 after purchasing an additional 6,234 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Stock Performance

Shares of RIVN opened at $12.99 on Tuesday. The business’s fifty day moving average price is $13.53 and its 200 day moving average price is $12.62. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $18.85. The stock has a market capitalization of $13.26 billion, a PE ratio of -2.32 and a beta of 2.04. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Analyst Ratings Changes

RIVN has been the subject of a number of research analyst reports. Baird R W downgraded shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. UBS Group increased their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Needham & Company LLC dropped their target price on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Sanford C. Bernstein initiated coverage on shares of Rivian Automotive in a research report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 target price for the company. Finally, Mizuho dropped their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and an average price target of $15.13.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. This trade represents a 8.80 % 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, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 363,142 shares of company stock worth $4,958,860 over the last ninety days. 2.51% of the stock is owned by insiders.

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.