Exane Derivatives Purchases New Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Exane Derivatives purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,088 shares of the electric vehicle automaker’s stock, valued at approximately $28,000.

Several other institutional investors have also made changes to their positions in the stock. Hazlett Burt & Watson Inc. acquired a new position in Rivian Automotive during the first quarter valued at approximately $51,000. Raymond James & Associates increased its holdings in shares of Rivian Automotive by 42.2% during the first quarter. Raymond James & Associates now owns 179,015 shares of the electric vehicle automaker’s stock worth $8,994,000 after buying an additional 53,132 shares in the last quarter. M Holdings Securities Inc. acquired a new position in shares of Rivian Automotive during the first quarter worth $369,000. MBL Wealth LLC acquired a new stake in Rivian Automotive in the first quarter valued at $271,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Rivian Automotive by 8.1% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 25,500 shares of the electric vehicle automaker’s stock valued at $1,281,000 after purchasing an additional 1,900 shares during the period. 62.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RIVN has been the subject of a number of recent research reports. Canaccord Genuity Group started coverage on Rivian Automotive in a report on Wednesday, July 13th. They issued a “buy” rating for the company. Wedbush upped their price target on shares of Rivian Automotive from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, July 8th. The Goldman Sachs Group upped their price target on shares of Rivian Automotive to $41.00 in a research report on Monday, August 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Rivian Automotive from $69.00 to $46.00 in a research report on Monday, July 18th. Finally, Needham & Company LLC assumed coverage on shares of Rivian Automotive in a research report on Wednesday, September 14th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of 65.89.

Insider Transactions at Rivian Automotive

In other news, CAO Jeff Baker sold 1,753 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of 37.27, for a total transaction of 65,334.31. Following the completion of the sale, 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 document filed with the SEC, which is available at the SEC website. 2.34% of the stock is currently owned by company insiders.

Rivian Automotive Trading Down 1.8 %

Shares of RIVN stock opened at 35.10 on Thursday. The company has a 50 day moving average of 34.84 and a 200-day moving average of 34.22. The company has a quick ratio of 8.60, a current ratio of 8.97 and a debt-to-equity ratio of 0.07. Rivian Automotive, Inc. has a 12-month low of 19.25 and a 12-month high of 179.47. The firm has a market cap of $32.16 billion and a P/E ratio of -1.70.

Rivian Automotive Profile

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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.

Further Reading

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

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