Bear Mountain Capital Inc. Has $36,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Bear Mountain Capital Inc. increased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 208.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,861 shares of the electric vehicle automaker’s stock after buying an additional 1,932 shares during the quarter. Bear Mountain Capital Inc.’s holdings in Rivian Automotive were worth $36,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIVN. Charles Schwab Investment Management Inc. grew its stake in shares of Rivian Automotive by 79.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after purchasing an additional 2,035,831 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Rivian Automotive by 1,870.7% in the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after acquiring an additional 51,464 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of Rivian Automotive by 30.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after acquiring an additional 124,950 shares in the last quarter. SG Americas Securities LLC increased its holdings in Rivian Automotive by 42.7% during the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock valued at $2,404,000 after purchasing an additional 54,053 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Rivian Automotive in the 4th quarter valued at $1,317,000. 66.25% of the stock is currently owned by institutional investors.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,334 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $11.25, for a total transaction of $937,507.50. Following the sale, the chief executive officer now owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the completion of the sale, the chief financial officer now owns 351,900 shares in the company, valued at $5,278,500. This represents a 4.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 366,788 shares of company stock worth $5,024,431. 2.51% of the stock is owned by company insiders.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $13.93 on Thursday. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.85. The company’s fifty day simple moving average is $13.60 and its two-hundred day simple moving average is $12.53. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70.

Analysts Set New Price Targets

Several research analysts recently issued reports on RIVN shares. Bank of America downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $13.00 in a research report on Friday, November 8th. Royal Bank of Canada decreased 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 research note on Friday, November 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Rivian Automotive in a research report on Monday, January 6th. Piper Sandler reduced their price objective on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of Rivian Automotive in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.13.

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.