AllSquare Wealth Management LLC Has $40,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

AllSquare Wealth Management LLC increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 8,794.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,024 shares of the electric vehicle automaker’s stock after acquiring an additional 2,990 shares during the quarter. AllSquare Wealth Management LLC’s holdings in Rivian Automotive were worth $40,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Oppenheimer & Co. Inc. raised its stake in shares of Rivian Automotive by 59.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 25,451 shares of the electric vehicle automaker’s stock worth $286,000 after purchasing an additional 9,441 shares during the period. Empowered Funds LLC boosted its stake in Rivian Automotive by 59.1% in the third quarter. Empowered Funds LLC now owns 18,466 shares of the electric vehicle automaker’s stock valued at $207,000 after acquiring an additional 6,860 shares during the last quarter. Swiss National Bank grew its position in shares of Rivian Automotive by 2.1% during the 3rd quarter. Swiss National Bank now owns 2,198,300 shares of the electric vehicle automaker’s stock valued at $24,665,000 after acquiring an additional 45,200 shares during the period. Quest Partners LLC increased its stake in shares of Rivian Automotive by 109.0% during the 3rd quarter. Quest Partners LLC now owns 13,945 shares of the electric vehicle automaker’s stock worth $156,000 after purchasing an additional 7,273 shares during the last quarter. Finally, Pathstone Holdings LLC raised its holdings in shares of Rivian Automotive by 8.4% in the 3rd quarter. Pathstone Holdings LLC now owns 118,237 shares of the electric vehicle automaker’s stock worth $1,327,000 after purchasing an additional 9,187 shares during the period. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Insider Transactions at Rivian Automotive

In other 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 transaction of $1,155,006.93. Following the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $13,960,547.37. The trade was a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 6,856 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now owns 335,076 shares of the company’s stock, valued at approximately $4,778,183.76. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,427 shares of company stock worth $2,735,619 in the last three months. Company insiders own 2.51% of the company’s stock.

Analyst Ratings Changes

RIVN has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on Rivian Automotive in a research report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 target price for the company. Piper Sandler downgraded shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $13.00 in a research note on Thursday. TD Cowen initiated coverage on Rivian Automotive in a report on Friday, March 7th. They set a “hold” rating and a $12.70 price objective on the stock. Cantor Fitzgerald lowered shares of Rivian Automotive from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $13.00 to $15.00 in a research report on Friday, February 21st. Finally, Cowen began coverage on shares of Rivian Automotive in a research report on Thursday, March 6th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.38.

Rivian Automotive Trading Down 4.2 %

NASDAQ:RIVN opened at $10.88 on Friday. The stock’s 50 day moving average price is $12.45 and its 200 day moving average price is $12.19. The company has a market capitalization of $12.30 billion, a PE ratio of -2.31 and a beta of 2.03. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.86. 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 results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.06. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Rivian Automotive had a negative net margin of 95.51% and a negative return on equity of 66.26%. On average, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

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.