7,342 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) in the 1st quarter, Holdings Channel.com reports. The firm bought 7,342 shares of the electric vehicle automaker’s stock, valued at approximately $369,000.

Several other institutional investors have also recently made changes to their positions in the business. Advisory Services Network LLC grew its position in shares of Rivian Automotive by 78.1% during the first quarter. Advisory Services Network LLC now owns 6,199 shares of the electric vehicle automaker’s stock worth $311,000 after purchasing an additional 2,719 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Rivian Automotive during the first quarter worth about $213,000. The Manufacturers Life Insurance Company boosted its stake in Rivian Automotive by 6.5% during the first quarter. The Manufacturers Life Insurance Company now owns 18,621 shares of the electric vehicle automaker’s stock valued at $936,000 after buying an additional 1,140 shares during the last quarter. Toroso Investments LLC bought a new position in Rivian Automotive during the first quarter valued at approximately $5,604,000. Finally, Capital Research Global Investors boosted its stake in Rivian Automotive by 20.7% during the first quarter. Capital Research Global Investors now owns 31,074,412 shares of the electric vehicle automaker’s stock valued at $1,520,474,000 after buying an additional 5,318,672 shares during the last quarter. Hedge funds and other institutional investors own 62.09% of the company’s stock.

Insiders Place Their Bets

In other Rivian Automotive news, CAO Jeff Baker sold 1,753 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of 37.27, for a total transaction of 65,334.31. Following the transaction, the chief accounting officer now directly owns 79,666 shares in the company, valued at approximately 2,969,151.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RIVN. Canaccord Genuity Group began coverage on Rivian Automotive in a research note on Wednesday, July 13th. They set a “buy” rating and a $61.00 price target for the company. The Goldman Sachs Group increased their price target on Rivian Automotive to $41.00 in a research note on Monday, August 15th. Needham & Company LLC began coverage on Rivian Automotive in a research note on Wednesday. They set a “hold” rating for the company. Wells Fargo & Company raised their price objective on Rivian Automotive from $24.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, July 11th. Finally, Mizuho lowered their price objective on Rivian Automotive from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of 65.89.

Rivian Automotive Trading Down 1.1 %

RIVN opened at 39.26 on Friday. The stock’s fifty day moving average is 34.48 and its two-hundred day moving average is 34.71. The company has a market capitalization of $35.97 billion and a P/E ratio of -1.90. Rivian Automotive, Inc. has a 52 week low of 19.25 and a 52 week high of 179.47. The company has a quick ratio of 8.60, a current ratio of 8.97 and a debt-to-equity ratio of 0.07.

About Rivian Automotive

(Get Rating)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

See Also

Want to see what other hedge funds are holding RIVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating).

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

Receive News & Ratings for Rivian Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rivian Automotive and related companies with MarketBeat.com's FREE daily email newsletter.