Coldstream Capital Management Inc. Raises Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Coldstream Capital Management Inc. lifted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,491 shares of the electric vehicle automaker’s stock after buying an additional 1,829 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Rivian Automotive were worth $751,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Tandem Financial LLC purchased a new position in Rivian Automotive during the fourth quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new position in Rivian Automotive during the fourth quarter worth approximately $27,000. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive during the third quarter worth approximately $28,000. Bear Mountain Capital Inc. boosted its position in Rivian Automotive by 208.0% during the fourth quarter. Bear Mountain Capital Inc. now owns 2,861 shares of the electric vehicle automaker’s stock worth $36,000 after purchasing an additional 1,932 shares in the last quarter. Finally, AllSquare Wealth Management LLC boosted its position in Rivian Automotive by 8,794.1% during the fourth quarter. AllSquare Wealth Management LLC now owns 3,024 shares of the electric vehicle automaker’s stock worth $40,000 after purchasing an additional 2,990 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

RIVN stock opened at $13.19 on Tuesday. The business has a fifty day moving average of $11.69 and a two-hundred day moving average of $12.15. 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 stock has a market cap of $14.91 billion, a price-to-earnings ratio of -2.79 and a beta of 1.89. Rivian Automotive, Inc. has a 52-week low of $8.84 and a 52-week high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Thursday, February 20th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, topping 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. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on Rivian Automotive from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday. TD Cowen assumed coverage on Rivian Automotive in a report on Friday, March 7th. They set a “hold” rating and a $12.70 target price for the company. Mizuho reduced their target price on Rivian Automotive from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Rivian Automotive in a report on Tuesday, March 18th. Finally, Barclays increased their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, January 22nd. Three 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.08.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 6,856 shares of the business’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 sale, the chief financial officer now directly owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. This trade represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,427 shares of company stock worth $2,154,905 in the last three months. 2.51% of the stock is owned by company insiders.

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.