Texas Capital Bank Wealth Management Services Inc Acquires 90,000 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Texas Capital Bank Wealth Management Services Inc lifted its position in Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 450.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,000 shares of the electric vehicle automaker’s stock after buying an additional 90,000 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Rivian Automotive were worth $2,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of Rivian Automotive by 8.2% in the fourth quarter. Federated Hermes Inc. now owns 8,559 shares of the electric vehicle automaker’s stock worth $201,000 after buying an additional 651 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Rivian Automotive by 5.3% in the third quarter. Moneta Group Investment Advisors LLC now owns 13,335 shares of the electric vehicle automaker’s stock worth $324,000 after buying an additional 668 shares during the last quarter. Jamison Private Wealth Management Inc. raised its stake in Rivian Automotive by 10.8% during the 4th quarter. Jamison Private Wealth Management Inc. now owns 7,446 shares of the electric vehicle automaker’s stock valued at $175,000 after purchasing an additional 727 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Rivian Automotive by 13.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 6,416 shares of the electric vehicle automaker’s stock valued at $156,000 after purchasing an additional 775 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Rivian Automotive by 86.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,689 shares of the electric vehicle automaker’s stock valued at $40,000 after purchasing an additional 784 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Up 3.7 %

NASDAQ:RIVN traded up $0.37 during trading hours on Friday, reaching $10.50. 23,884,000 shares of the stock were exchanged, compared to its average volume of 42,481,508. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $28.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.71 and a quick ratio of 3.55. The firm has a 50 day moving average of $10.20 and a 200 day moving average of $14.72. The stock has a market cap of $10.45 billion, a PE ratio of -1.82 and a beta of 1.91.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.28 billion. On average, equities analysts expect that Rivian Automotive, Inc. will post -4.96 earnings per share for the current year.

Insider Activity

In other Rivian Automotive news, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now owns 52,415 shares of the company’s stock, valued at approximately $690,829.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Kjell Gruner sold 19,935 shares of the firm’s 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeff Baker sold 31,425 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.18, for a total value of $414,181.50. Following the completion of the transaction, the chief accounting officer now owns 52,415 shares in the company, valued at approximately $690,829.70. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 target price on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Stifel Nicolaus dropped their price objective on Rivian Automotive from $23.00 to $18.00 and set a “buy” rating for the company in a report on Monday, February 26th. The Goldman Sachs Group dropped their price objective on Rivian Automotive from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Cantor Fitzgerald dropped their price objective on Rivian Automotive from $23.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Rivian Automotive in a research note on Wednesday, May 8th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Check Out Our Latest Analysis on Rivian Automotive

Rivian Automotive Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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