Swiss National Bank Has $28.19 Million Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Swiss National Bank trimmed its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,119,600 shares of the electric vehicle automaker’s stock after selling 78,700 shares during the period. Swiss National Bank owned about 0.21% of Rivian Automotive worth $28,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Rivian Automotive by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker’s stock valued at $63,055,000 after purchasing an additional 133,781 shares during the period. SG Americas Securities LLC raised its holdings in shares of Rivian Automotive by 42.7% in the 4th quarter. SG Americas Securities LLC now owns 180,775 shares of the electric vehicle automaker’s stock valued at $2,404,000 after purchasing an additional 54,053 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Rivian Automotive in the 4th quarter valued at about $1,382,000. Alberta Investment Management Corp bought a new stake in shares of Rivian Automotive in the 4th quarter valued at about $6,648,000. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Rivian Automotive by 36.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 148,423 shares of the electric vehicle automaker’s stock valued at $1,974,000 after purchasing an additional 39,751 shares during the period. 66.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at $13,960,547.37. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 6,856 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 335,076 shares in the company, valued at $4,778,183.76. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,427 shares of company stock worth $2,735,619. Corporate insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $11.02 on Tuesday. 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 firm has a market capitalization of $12.46 billion, a price-to-earnings ratio of -2.33 and a beta of 2.03. The firm’s 50 day simple moving average is $12.65 and its 200 day simple moving average is $12.23. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly 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. The business 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%. As a group, research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RIVN has been the topic of a number of research analyst reports. Cowen initiated coverage on shares of Rivian Automotive in a report on Thursday, March 6th. They issued a “hold” rating on the stock. Benchmark initiated coverage on shares of Rivian Automotive in a report on Monday, December 9th. They issued a “buy” rating and a $18.00 price target on the stock. Sanford C. Bernstein initiated coverage on shares of Rivian Automotive in a report on Wednesday, January 29th. They issued an “underperform” rating and a $6.10 price target on the stock. Baird R W cut shares of Rivian Automotive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC increased their price target on shares of Rivian Automotive from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.64.

Rivian Automotive Company 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.