TCG Advisory Services LLC Has $267,000 Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

TCG Advisory Services LLC boosted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 34.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,396 shares of the electric vehicle automaker’s stock after acquiring an additional 2,919 shares during the period. TCG Advisory Services LLC’s holdings in Rivian Automotive were worth $267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in Rivian Automotive in the 4th quarter worth approximately $26,000. Ancora Advisors LLC purchased a new stake in Rivian Automotive during the 3rd quarter valued at approximately $27,000. First Horizon Advisors Inc. increased its stake in Rivian Automotive by 1,537.0% during the third quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after acquiring an additional 1,245 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of Rivian Automotive during the fourth quarter valued at approximately $35,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Rivian Automotive by 86.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker’s stock worth $40,000 after buying an additional 784 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the transaction, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 2,946 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at $2,523,133.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,306 shares of company stock worth $717,274. 2.30% of the stock is owned by corporate insiders.

Rivian Automotive Trading Up 0.5 %

NASDAQ:RIVN traded up $0.05 on Monday, reaching $10.12. 11,374,047 shares of the stock traded hands, compared to its average volume of 41,630,969. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $28.06. The company’s 50 day moving average is $10.40 and its 200-day moving average is $15.13. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of -1.75 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping the consensus estimate of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Equities research analysts anticipate that Rivian Automotive, Inc. will post -4.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Robert W. Baird reduced their price objective on Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Morgan Stanley decreased their target price on Rivian Automotive from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Evercore ISI dropped their price target on Rivian Automotive from $35.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price objective on shares of Rivian Automotive in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Rivian Automotive currently has an average rating of “Moderate Buy” and an average price target of $19.57.

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.