Stevens Capital Management LP Has $3.80 Million Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Stevens Capital Management LP grew its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 1,007.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,970 shares of the electric vehicle automaker’s stock after purchasing an additional 147,340 shares during the quarter. Rivian Automotive comprises about 0.9% of Stevens Capital Management LP’s portfolio, making the stock its 16th biggest holding. Stevens Capital Management LP’s holdings in Rivian Automotive were worth $3,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Rivian Automotive by 228.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,630,315 shares of the electric vehicle automaker’s stock valued at $88,144,000 after acquiring an additional 2,525,142 shares during the period. Morgan Stanley raised 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. Charles Schwab Investment Management Inc. raised its holdings in shares of Rivian Automotive by 38.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,282,027 shares of the electric vehicle automaker’s stock worth $55,408,000 after buying an additional 631,397 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Rivian Automotive by 14.8% during the 3rd quarter. Northern Trust Corp now owns 4,235,291 shares of the electric vehicle automaker’s stock worth $102,833,000 after buying an additional 544,588 shares in the last quarter. Finally, Bamco Inc. NY raised its holdings in shares of Rivian Automotive by 25.4% during the 3rd quarter. Bamco Inc. NY now owns 2,531,751 shares of the electric vehicle automaker’s stock worth $61,471,000 after buying an additional 512,495 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of the business’s 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 sale, the chief financial officer now directly owns 155,749 shares in the company, valued at $2,523,133.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Jeff Baker sold 31,425 shares of the business’s stock in a transaction dated 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 directly owns 52,415 shares in the company, valued at $690,829.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 2,946 shares of the business’s 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 transaction, the chief financial officer now 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 have sold a total of 54,306 shares of company stock worth $717,274 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

Rivian Automotive Stock Performance

Rivian Automotive stock traded up $0.52 during mid-day trading on Friday, reaching $9.04. 28,075,219 shares of the company’s stock were exchanged, compared to its average volume of 42,327,992. The business’s fifty day simple moving average is $10.98 and its 200 day simple moving average is $15.60. The firm has a market capitalization of $8.84 billion, a PE ratio of -1.55 and a beta of 1.88. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48.

Rivian Automotive (NASDAQ:RIVN) last issued 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 for 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%. On average, sell-side analysts expect that Rivian Automotive, Inc. will post -4.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RIVN shares. Truist Financial reaffirmed a “hold” rating and issued a $11.00 target price on shares of Rivian Automotive in a report on Friday, April 12th. The Goldman Sachs Group reduced their price target 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. Needham & Company LLC reduced their price target on Rivian Automotive from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 price target on shares of Rivian Automotive in a research report on Tuesday, April 2nd. Finally, Stifel Nicolaus decreased their target price on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.61.

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.