Xponance Inc. Has $995,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Xponance Inc. increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 74,791 shares of the electric vehicle automaker’s stock after purchasing an additional 7,584 shares during the quarter. Xponance Inc.’s holdings in Rivian Automotive were worth $995,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. RFG Holdings Inc. boosted its position in Rivian Automotive by 5.2% during the 4th quarter. RFG Holdings Inc. now owns 22,226 shares of the electric vehicle automaker’s stock worth $296,000 after acquiring an additional 1,096 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Rivian Automotive by 4.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock worth $354,000 after purchasing an additional 1,160 shares during the period. Freestone Capital Holdings LLC grew its position in Rivian Automotive by 4.1% during the fourth quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker’s stock valued at $390,000 after purchasing an additional 1,164 shares in the last quarter. Tradition Wealth Management LLC grew its position in Rivian Automotive by 11.9% during the third quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker’s stock valued at $132,000 after purchasing an additional 1,250 shares in the last quarter. Finally, World Investment Advisors LLC increased its stake in Rivian Automotive by 8.6% in the 3rd quarter. World Investment Advisors LLC now owns 18,165 shares of the electric vehicle automaker’s stock valued at $204,000 after buying an additional 1,446 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RIVN. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays boosted their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. Needham & Company LLC raised their price target on Rivian Automotive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Sanford C. Bernstein started coverage on Rivian Automotive in a research note on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price target for the company. Finally, Mizuho dropped their price objective on Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.38.

Rivian Automotive Price Performance

Shares of NASDAQ:RIVN opened at $11.60 on Monday. 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 business has a 50 day moving average price of $12.41 and a 200 day moving average price of $12.16. The company has a market cap of $13.12 billion, a price-to-earnings ratio of -2.46 and a beta of 2.03. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $18.86.

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

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were 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 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 the SEC website. Also, CEO Robert J. Scaringe sold 35,713 shares of Rivian Automotive stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $11,879,847.36. This trade 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 113,998 shares of company stock valued at $1,744,184 in the last ninety days. Company insiders own 2.51% of the company’s stock.

About Rivian Automotive

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.