Natixis Advisors LLC Makes New $263,000 Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Natixis Advisors LLC purchased a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 19,750 shares of the electric vehicle automaker’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Rivian Automotive by 1.8% during the third quarter. Geode Capital Management LLC now owns 13,000,392 shares of the electric vehicle automaker’s stock worth $145,550,000 after acquiring an additional 223,860 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Rivian Automotive by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker’s stock worth $63,055,000 after purchasing an additional 133,781 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Rivian Automotive during the fourth quarter valued at approximately $9,432,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Rivian Automotive by 17.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 589,382 shares of the electric vehicle automaker’s stock worth $6,613,000 after buying an additional 86,433 shares in the last quarter. Finally, Swedbank AB grew its position in Rivian Automotive by 5.6% in the fourth quarter. Swedbank AB now owns 502,644 shares of the electric vehicle automaker’s stock worth $6,685,000 after buying an additional 26,474 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total transaction of $491,410.88. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,879,847.36. This represents a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 6,856 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,427 shares of company stock valued at $2,588,475. 2.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on RIVN. Guggenheim reduced their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Piper Sandler lowered Rivian Automotive from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $13.00 in a research report on Thursday, March 20th. Needham & Company LLC boosted their price objective on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 21st. 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. Finally, Truist Financial upped their price target on Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Rivian Automotive currently has a consensus rating of “Hold” and a consensus price target of $14.38.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $12.41 on Friday. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $18.86. The business’s 50 day moving average is $12.26 and its two-hundred day moving average is $12.14. The company has a market cap of $14.03 billion, a P/E ratio of -2.63 and a beta of 2.03. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. On average, equities analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

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.