Versor Investments LP Invests $298,000 in Rivian Automotive, Inc. (NASDAQ:RIVN)

Versor Investments LP purchased a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, Holdings Channel.com reports. The fund purchased 22,400 shares of the electric vehicle automaker’s stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RIVN. International Assets Investment Management LLC grew its holdings in shares of Rivian Automotive by 1,870.7% during the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after purchasing an additional 51,464 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Rivian Automotive by 33.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 48,977 shares of the electric vehicle automaker’s stock worth $550,000 after buying an additional 12,293 shares in the last quarter. Financial Advocates Investment Management bought a new stake in Rivian Automotive during the 3rd quarter worth about $133,000. Farther Finance Advisors LLC increased its position in Rivian Automotive by 150.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 15,588 shares of the electric vehicle automaker’s stock valued at $175,000 after acquiring an additional 9,357 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Rivian Automotive by 31.0% in the third quarter. Van ECK Associates Corp now owns 372,093 shares of the electric vehicle automaker’s stock worth $4,175,000 after acquiring an additional 88,047 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIVN has been the topic of several research analyst reports. Guggenheim decreased their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Barclays increased their price objective on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 22nd. Robert W. Baird restated a “neutral” rating and set a $16.00 target price (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. Sanford C. Bernstein started coverage on Rivian Automotive in a report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price target on the stock. Finally, Baird R W lowered Rivian Automotive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.87.

Rivian Automotive Stock Down 2.8 %

NASDAQ:RIVN opened at $11.51 on Tuesday. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of -2.44 and a beta of 2.04. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $13.32 and a two-hundred day moving average price of $12.43. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86.

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

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $13.88, for a total value of $991,434.52. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,983,450.68. The trade was a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Claire Mcdonough sold 6,856 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $14.26, for a total value of $97,766.56. Following the transaction, the chief financial officer now directly owns 335,076 shares of the company’s stock, valued at $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,357 shares of company stock valued at $3,988,140 over the last quarter. Corporate 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.