Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by RFG Holdings Inc.

RFG Holdings Inc. lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,226 shares of the electric vehicle automaker’s stock after buying an additional 1,096 shares during the quarter. RFG Holdings Inc.’s holdings in Rivian Automotive were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rivian Automotive during the third quarter worth about $28,000. GHP Investment Advisors Inc. boosted its holdings in shares of 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 valued at $29,000 after acquiring an additional 1,002 shares during the period. American Capital Advisory LLC grew its position in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. raised its position in Rivian Automotive by 2,636.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Rivian Automotive during the 3rd quarter worth $44,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at $11,784,877.65. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 363,142 shares of company stock valued at $4,958,860. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $12.63 on Tuesday. The firm has a fifty day moving average of $13.46 and a 200-day moving average of $12.76. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.85. 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 $12.89 billion, a P/E ratio of -2.25 and a beta of 2.04.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Benchmark initiated coverage on shares of Rivian Automotive in a research note on Monday, December 9th. They set a “buy” rating and a $18.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. UBS Group boosted their price objective on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Piper Sandler dropped their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Truist Financial raised their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Two equities 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.com, Rivian Automotive has an average rating of “Hold” and a consensus price target of $15.13.

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.