TCG Advisory Services LLC Increases Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

TCG Advisory Services LLC lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 34.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,396 shares of the electric vehicle automaker’s stock after acquiring an additional 2,919 shares during the period. TCG Advisory Services LLC’s holdings in Rivian Automotive were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RIVN. Commonwealth Equity Services LLC boosted its holdings in Rivian Automotive by 18.7% in the third quarter. Commonwealth Equity Services LLC now owns 215,885 shares of the electric vehicle automaker’s stock worth $5,242,000 after purchasing an additional 34,044 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Rivian Automotive by 2.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 101,040 shares of the electric vehicle automaker’s stock valued at $2,453,000 after purchasing an additional 2,724 shares during the last quarter. Xponance Inc. raised its position in Rivian Automotive by 30.5% in the 3rd quarter. Xponance Inc. now owns 24,084 shares of the electric vehicle automaker’s stock valued at $585,000 after buying an additional 5,622 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Rivian Automotive by 1.2% during the 3rd quarter. Raymond James & Associates now owns 239,852 shares of the electric vehicle automaker’s stock worth $5,824,000 after acquiring an additional 2,947 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Rivian Automotive by 22.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 271,029 shares of the electric vehicle automaker’s stock worth $6,581,000 after acquiring an additional 49,373 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RIVN. Morgan Stanley decreased their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Robert W. Baird dropped their price target on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Stifel Nicolaus dropped their price objective on shares of Rivian Automotive from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Truist Financial reiterated a “hold” rating and set a $10.00 price target (down previously from $11.00) on shares of Rivian Automotive in a research note on Thursday. Finally, Needham & Company LLC lowered their price objective on Rivian Automotive from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Moderate Buy” and an average price target of $19.57.

Rivian Automotive Stock Up 0.5 %

RIVN traded up $0.05 during midday trading on Monday, reaching $10.12. The company’s stock had a trading volume of 11,374,047 shares, compared to its average volume of 41,630,969. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average is $10.40 and its 200-day moving average is $15.13. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $28.06. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of -1.75 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, research analysts expect that Rivian Automotive, Inc. will post -4.77 EPS for the current year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at $690,829.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total transaction of $47,725.20. Following the completion of the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,306 shares of company stock valued at $717,274. 2.30% of the stock is currently owned by insiders.

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.