Austin Private Wealth LLC Has $272,000 Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Austin Private Wealth LLC boosted its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 64.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,787 shares of the electric vehicle automaker’s stock after buying an additional 10,128 shares during the period. Austin Private Wealth LLC’s holdings in Rivian Automotive were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RIVN. Bear Mountain Capital Inc. acquired a new position in Rivian Automotive during the fourth quarter valued at $26,000. Ancora Advisors LLC purchased a new position in Rivian Automotive in the third quarter valued at about $27,000. Principal Securities Inc. purchased a new position in Rivian Automotive in the fourth quarter valued at about $33,000. Arlington Trust Co LLC purchased a new position in Rivian Automotive in the fourth quarter valued at about $35,000. Finally, Fairman Group LLC purchased a new position in Rivian Automotive in the fourth quarter valued at about $36,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Stifel Nicolaus lowered their target price on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Rivian Automotive in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 price target on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Jefferies Financial Group started coverage on Rivian Automotive in a research note on Thursday, March 7th. They set a “buy” rating and a $16.00 price target for the company. Finally, Barclays decreased their price target on Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

Rivian Automotive Stock Performance

Rivian Automotive stock traded up $0.69 during trading hours on Monday, hitting $11.01. The stock had a trading volume of 30,893,209 shares, compared to its average volume of 40,030,402. The company has a 50-day moving average of $10.29 and a two-hundred day moving average of $13.59. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55. The company has a market cap of $10.96 billion, a PE ratio of -1.91 and a beta of 2.01. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.38) by ($0.03). The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. On average, equities research analysts anticipate that Rivian Automotive, Inc. will post -4.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.49, for a total transaction of $820,719.21. Following the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,452,349.59. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Rivian Automotive 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.