Freestone Capital Holdings LLC Acquires 1,164 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Freestone Capital Holdings LLC lifted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,312 shares of the electric vehicle automaker’s stock after acquiring an additional 1,164 shares during the period. Freestone Capital Holdings LLC’s holdings in Rivian Automotive were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RIVN. John G Ullman & Associates Inc. increased its holdings in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock worth $135,000 after acquiring an additional 1,000 shares during the period. RFG Holdings Inc. raised its holdings in shares of Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock valued at $296,000 after buying an additional 1,096 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Rivian Automotive by 4.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock worth $354,000 after acquiring an additional 1,160 shares during the last quarter. Tradition Wealth Management LLC lifted its stake in Rivian Automotive by 11.9% in the third 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 during the last quarter. Finally, World Investment Advisors LLC boosted its holdings in Rivian Automotive by 8.6% during the 3rd quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker’s stock valued at $204,000 after acquiring an additional 1,446 shares during the period. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total transaction of $97,766.56. Following the completion of the transaction, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Scaringe sold 35,713 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $11,879,847.36. This represents a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,357 shares of company stock valued at $3,988,140 in the last three months. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $11.17 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86. The firm has a fifty day moving average price of $13.11 and a 200-day moving average price of $12.38. The stock has a market cap of $12.63 billion, a PE ratio of -2.37 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings data on Thursday, February 20th. The electric vehicle automaker reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.43 billion. Rivian Automotive had a negative return on equity of 66.26% and a negative net margin of 95.51%. Equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen initiated coverage on shares of Rivian Automotive in a report on Friday. They issued a “hold” rating and a $12.70 price target on the stock. Royal Bank of Canada lowered their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Needham & Company LLC boosted their price target on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Friday, November 8th. Finally, UBS Group increased their target price on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Rivian Automotive has a consensus rating of “Hold” and an average target price of $14.73.

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.