Diversify Advisory Services LLC Purchases New Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Diversify Advisory Services LLC acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,553 shares of the electric vehicle automaker’s stock, valued at approximately $548,000.

Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Rivian Automotive during the 3rd quarter valued at about $28,000. GHP Investment Advisors Inc. boosted its holdings in Rivian Automotive by 63.2% in the 3rd 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 grew its stake in shares of Rivian Automotive by 267.6% in the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after buying an additional 2,111 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Rivian Automotive by 2,636.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after buying an additional 2,900 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Rivian Automotive during the 3rd quarter valued at approximately $44,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at $11,784,877.65. This trade represents a 7.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 378,498 shares of the company’s stock, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,429 shares of company stock valued at $4,467,450. 2.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on RIVN. Canaccord Genuity Group cut their target price on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Truist Financial boosted their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the company a “hold” rating in a report on Thursday, January 16th. UBS Group increased their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Guggenheim reduced their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $16.00 price objective (down previously from $18.00) on shares of Rivian Automotive in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Rivian Automotive currently has an average rating of “Hold” and a consensus price target of $15.48.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $13.29 on Wednesday. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $13.08 and a 200-day simple moving average of $13.04. The stock has a market cap of $13.56 billion, a P/E ratio of -2.37 and a beta of 2.05. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $18.85.

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.