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

Jeppson Wealth Management LLC increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,671 shares of the electric vehicle automaker’s stock after purchasing an additional 2,445 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Rivian Automotive were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of RIVN. Wilmington Savings Fund Society FSB purchased a new position in Rivian Automotive in the 3rd quarter worth about $28,000. GHP Investment Advisors Inc. raised its holdings in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 1,002 shares during the last quarter. American Capital Advisory LLC raised its holdings in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after purchasing an additional 2,111 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 2,900 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Rivian Automotive in the third quarter worth approximately $44,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Stock Performance

RIVN 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 capitalization of $13.12 billion, a price-to-earnings ratio of -2.29 and a beta of 2.05. The company has a fifty day moving average of $13.25 and a 200 day moving average of $12.94. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $18.85.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 18,501 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.00, for a total transaction of $277,515.00. Following the completion of the transaction, the chief financial officer now owns 351,900 shares in the company, valued at $5,278,500. This trade represents a 4.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 363,142 shares of company stock worth $4,958,860 over the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Needham & Company LLC reduced their price objective on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Mizuho dropped their target price on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Piper Sandler cut their price target on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, Barclays increased their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.52.

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.