Sloy Dahl & Holst LLC Buys New Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Sloy Dahl & Holst LLC bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 442,192 shares of the electric vehicle automaker’s stock, valued at approximately $10,374,000. Rivian Automotive comprises 2.1% of Sloy Dahl & Holst LLC’s portfolio, making the stock its 4th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Rivian Automotive by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 63,845,364 shares of the electric vehicle automaker’s stock worth $1,550,165,000 after buying an additional 408,677 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Rivian Automotive by 2.9% during the 1st quarter. BlackRock Inc. now owns 50,903,971 shares of the electric vehicle automaker’s stock worth $787,993,000 after buying an additional 1,443,514 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of Rivian Automotive during the 4th quarter worth approximately $228,175,000. State Street Corp boosted its holdings in shares of Rivian Automotive by 22.6% during the 2nd quarter. State Street Corp now owns 11,704,572 shares of the electric vehicle automaker’s stock worth $194,998,000 after buying an additional 2,156,922 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Rivian Automotive by 14.0% during the 3rd quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock worth $235,409,000 after buying an additional 1,193,650 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Insider Transactions at Rivian Automotive

In other news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Jeff Baker sold 31,425 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total transaction of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,306 shares of company stock worth $717,274. 2.30% of the stock is owned by company insiders.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock traded up $0.15 during trading hours on Wednesday, hitting $8.86. 8,612,292 shares of the company’s stock traded hands, compared to its average volume of 43,140,129. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $28.06. The company has a fifty day simple moving average of $11.98 and a 200-day simple moving average of $16.14. 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 (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, beating the consensus estimate of ($1.67) by $0.09. The firm 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%. As a group, analysts anticipate that Rivian Automotive, Inc. will post -4.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RIVN. The Goldman Sachs Group lowered their target price on Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Morgan Stanley lowered their target price on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. UBS Group raised Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Tuesday. Wolfe Research reaffirmed a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Finally, Mizuho reaffirmed a “neutral” rating and set a $12.00 target price on shares of Rivian Automotive in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.91.

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.