Sloy Dahl & Holst LLC Acquires 1,920 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Sloy Dahl & Holst LLC boosted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,171 shares of the electric vehicle automaker’s stock after purchasing an additional 1,920 shares during the quarter. Sloy Dahl & Holst LLC’s holdings in Rivian Automotive were worth $574,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RIVN. Wilmington Savings Fund Society FSB bought a new stake in shares of Rivian Automotive during the third quarter valued at approximately $28,000. GHP Investment Advisors Inc. increased 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 acquiring an additional 1,002 shares in the last quarter. American Capital Advisory LLC increased 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 acquiring an additional 2,111 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of 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 acquiring an additional 2,900 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Rivian Automotive during the third quarter valued at approximately $44,000. 66.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RIVN shares. Mizuho decreased their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Sanford C. Bernstein began coverage on Rivian Automotive in a report on Wednesday, January 29th. They set an “underperform” rating and a $6.10 price target for the company. JPMorgan Chase & Co. decreased their price target on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. Bank of America downgraded Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $13.00 in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price target on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.13.

Rivian Automotive Trading Down 1.4 %

Shares of RIVN opened at $12.39 on Tuesday. The stock’s 50-day simple moving average is $13.46 and its 200 day simple moving average is $12.76. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $18.85.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,879,847.36. This represents a 3.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was 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 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. In the last quarter, insiders have sold 363,142 shares of company stock valued at $4,958,860. Corporate insiders own 2.51% of the company’s stock.

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.