Diversify Advisory Services LLC Invests $548,000 in Rivian Automotive, Inc. (NASDAQ:RIVN)

Diversify Advisory Services LLC acquired a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 39,553 shares of the electric vehicle automaker’s stock, valued at approximately $548,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. John G Ullman & Associates Inc. lifted its holdings in shares of Rivian Automotive by 9.1% in the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock valued at $135,000 after buying an additional 1,000 shares during the period. GHP Investment Advisors Inc. raised its position in Rivian Automotive by 63.2% in the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Rivian Automotive by 1.4% in the second quarter. Intech Investment Management LLC now owns 76,967 shares of the electric vehicle automaker’s stock valued at $1,033,000 after acquiring an additional 1,055 shares during the period. Tradition Wealth Management LLC boosted its position in shares of Rivian Automotive by 11.9% during the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock worth $132,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Regal Investment Advisors LLC grew its stake in shares of Rivian Automotive by 7.0% during the 2nd quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker’s stock worth $262,000 after purchasing an additional 1,281 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on RIVN. Barclays decreased their price objective on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price objective on shares of Rivian Automotive in a research report on Monday, January 6th. Robert W. Baird restated a “neutral” rating and set a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a report on Wednesday, December 18th. Royal Bank of Canada reduced their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Piper Sandler decreased their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.48.

Rivian Automotive Trading Down 6.5 %

Shares of RIVN stock opened at $13.29 on Wednesday. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.85. The firm’s 50 day moving average price is $13.08 and its two-hundred day moving average price is $13.04. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of -2.37 and a beta of 2.05. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $13,960,547.37. The trade was a 7.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the sale, the chief financial officer now owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,429 shares of company stock worth $4,467,450. 2.51% of the stock is currently owned by corporate insiders.

About Rivian Automotive

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.