Capital Square LLC Invests $213,000 in Rivian Automotive, Inc. (NASDAQ:RIVN)

Capital Square LLC bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,065 shares of the electric vehicle automaker’s stock, valued at approximately $213,000.

Other large investors also recently made changes to their positions in the company. Stifel Financial Corp increased its stake in shares of Rivian Automotive by 7.3% during the third quarter. Stifel Financial Corp now owns 288,191 shares of the electric vehicle automaker’s stock worth $6,997,000 after purchasing an additional 19,699 shares during the period. CenterBook Partners LP bought a new position in shares of Rivian Automotive during the third quarter worth approximately $4,473,000. Atria Wealth Solutions Inc. increased its stake in shares of Rivian Automotive by 448.0% during the third quarter. Atria Wealth Solutions Inc. now owns 229,347 shares of the electric vehicle automaker’s stock worth $5,569,000 after purchasing an additional 187,495 shares during the period. Morgan Stanley increased its stake in shares of Rivian Automotive by 14.0% during the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock worth $235,409,000 after purchasing an additional 1,193,650 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in Rivian Automotive during the third quarter worth approximately $1,806,000. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Down 3.4 %

NASDAQ:RIVN traded down $0.36 during trading hours on Wednesday, hitting $10.27. 30,139,324 shares of the company were exchanged, compared to its average volume of 42,216,559. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of -1.79 and a beta of 1.88. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. Rivian Automotive, Inc. has a one year low of $10.01 and a one year high of $28.06. The company has a fifty day simple moving average of $12.50 and a 200 day simple moving average of $16.57.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.09. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.28 billion. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. Sell-side analysts expect that Rivian Automotive, Inc. will post -4.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. UBS Group reissued a “sell” rating and set a $8.00 price target (down previously from $24.00) on shares of Rivian Automotive in a research report on Friday, February 23rd. Robert W. Baird reduced their price target on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Barclays reduced their price target on Rivian Automotive from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Piper Sandler raised Rivian Automotive from a “neutral” rating to an “overweight” rating and raised their target price for the company from $15.00 to $21.00 in a report on Friday, March 15th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Rivian Automotive in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.87.

Insider Buying and Selling

In other news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the completion of the transaction, the insider now directly owns 407,787 shares of the company’s stock, valued at approximately $5,223,751.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The disclosure for this sale can be found here. Insiders sold a total of 54,306 shares of company stock valued at $717,274 in the last three months. Insiders own 2.30% of the company’s stock.

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.