Jeppson Wealth Management LLC Buys 2,445 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Jeppson Wealth Management LLC increased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 15.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,671 shares of the electric vehicle automaker’s stock after acquiring an additional 2,445 shares during the period. Jeppson Wealth Management LLC’s holdings in Rivian Automotive were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RIVN. Baillie Gifford & Co. boosted its stake in shares of Rivian Automotive by 52.5% during the 3rd quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock worth $565,012,000 after purchasing an additional 17,341,786 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after buying an additional 2,035,831 shares during the period. AQR Capital Management LLC grew its stake in shares of Rivian Automotive by 102.8% during the second quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker’s stock valued at $33,276,000 after buying an additional 1,257,106 shares during the last quarter. abrdn plc raised its holdings in shares of Rivian Automotive by 17.8% in the third quarter. abrdn plc now owns 3,439,143 shares of the electric vehicle automaker’s stock worth $38,587,000 after buying an additional 518,561 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Rivian Automotive during the 3rd quarter worth approximately $4,184,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Trading Up 0.6 %

Rivian Automotive stock opened at $12.85 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock has a market cap of $13.12 billion, a PE ratio of -2.29 and a beta of 2.05. The stock has a 50-day moving average of $13.25 and a two-hundred day moving average of $12.94. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 363,142 shares of company stock valued at $4,958,860 in the last three months. 2.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RIVN has been the topic of a number of recent analyst reports. Barclays increased their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price target on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus dropped their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Truist Financial raised their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Guggenheim lowered their price target on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.52.

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.