Y Intercept Hong Kong Ltd Invests $4.04 Million in Rivian Automotive, Inc. (NASDAQ:RIVN)

Y Intercept Hong Kong Ltd acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 303,461 shares of the electric vehicle automaker’s stock, valued at approximately $4,036,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Rivian Automotive by 79.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after buying an additional 2,035,831 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Rivian Automotive by 1,870.7% during the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after buying an additional 51,464 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in Rivian Automotive by 30.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after purchasing an additional 124,950 shares during the period. SG Americas Securities LLC boosted its position in Rivian Automotive by 42.7% during the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock worth $2,404,000 after purchasing an additional 54,053 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in Rivian Automotive during the 4th quarter worth $6,648,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. This represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 18,501 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.00, for a total transaction of $277,515.00. Following the sale, the chief financial officer now owns 351,900 shares in the company, valued at approximately $5,278,500. This trade represents a 4.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 283,454 shares of company stock worth $4,086,923 over the last quarter. 2.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $13.00 in a research report on Friday, November 8th. Guggenheim decreased their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price target on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus decreased their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.09.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $12.97 on Monday. The firm has a market cap of $13.24 billion, a PE ratio of -2.75 and a beta of 2.04. The firm’s 50-day simple moving average is $13.56 and its 200-day simple moving average is $12.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.85.

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

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.