J.W. Cole Advisors Inc. raised its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) by 69.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,084 shares of the electric vehicle automaker’s stock after purchasing an additional 3,309 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Rivian Automotive were worth $406,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Coatue Management LLC acquired a new stake in shares of Rivian Automotive during the fourth quarter worth $3,652,616,000. Capital Research Global Investors raised its stake in Rivian Automotive by 20.7% in 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 purchasing an additional 5,318,672 shares in the last quarter. BlackRock Inc. bought a new position in Rivian Automotive in the fourth quarter valued at about $3,195,595,000. D1 Capital Partners L.P. bought a new position in Rivian Automotive in the fourth quarter valued at about $1,616,629,000. Finally, Allianz Asset Management GmbH grew its position in Rivian Automotive by 0.5% in the first quarter. Allianz Asset Management GmbH now owns 10,384,010 shares of the electric vehicle automaker’s stock valued at $521,692,000 after acquiring an additional 54,765 shares during the last quarter. Institutional investors and hedge funds own 62.09% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on RIVN. Needham & Company LLC began coverage on Rivian Automotive in a research report on Wednesday, September 14th. They issued a “hold” rating on the stock. Canaccord Genuity Group began coverage on Rivian Automotive in a report on Wednesday, July 13th. They set a “buy” rating and a $61.00 price target on the stock. Mizuho reduced their price target on Rivian Automotive from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 12th. The Goldman Sachs Group boosted their price target on Rivian Automotive to $41.00 in a report on Monday, August 15th. Finally, DA Davidson boosted their price target on Rivian Automotive from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of 65.89.
Rivian Automotive Trading Down 3.4 %
Insider Buying and Selling at Rivian Automotive
In other Rivian Automotive news, CAO Jeff Baker sold 1,753 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of 37.27, for a total value of 65,334.31. Following the completion of the transaction, the chief accounting officer now owns 79,666 shares in the company, valued at approximately 2,969,151.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.34% of the company’s stock.
Rivian Automotive Profile
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.
- Get a free copy of the StockNews.com research report on Rivian Automotive (RIVN)
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