434,467 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by Trans Canada Capital Inc.

Trans Canada Capital Inc. bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 434,467 shares of the electric vehicle automaker’s stock, valued at approximately $5,778,000. Rivian Automotive makes up approximately 0.6% of Trans Canada Capital Inc.’s holdings, making the stock its 5th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of RIVN. Tandem Financial LLC acquired a new stake in Rivian Automotive in the 4th quarter valued at about $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rivian Automotive during the 3rd quarter worth approximately $28,000. Hantz Financial Services Inc. raised its position in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Bear Mountain Capital Inc. lifted its stake in Rivian Automotive by 208.0% in the 4th quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock valued at $36,000 after buying an additional 1,932 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Trading Up 0.3 %

RIVN opened at $12.45 on Tuesday. The firm’s 50 day moving average is $12.22 and its 200-day moving average is $12.11. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.86. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $14.08 billion, a P/E ratio of -2.64 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping 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 firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.43 billion. Analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the sale, the chief financial officer now owns 335,076 shares in the company, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $13,960,547.37. 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 sold 185,427 shares of company stock valued at $2,588,475. Insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Cowen started coverage on Rivian Automotive in a research report on Thursday, March 6th. They set a “hold” rating for the company. TD Cowen began coverage on shares of Rivian Automotive in a research note on Friday, March 7th. They issued a “hold” rating and a $12.70 target price for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 price target (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. Piper Sandler lowered shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $13.00 in a research report on Thursday, March 20th. Finally, UBS Group lifted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.38.

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.