Mitsubishi UFJ Trust & Banking Corp Buys 13,721 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) by 16.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 96,125 shares of the electric vehicle automaker’s stock after purchasing an additional 13,721 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Rivian Automotive were worth $2,474,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in RIVN. TCTC Holdings LLC bought a new position in shares of Rivian Automotive in the first quarter valued at about $25,000. Bartlett & Co. LLC raised its holdings in shares of Rivian Automotive by 104.2% in the second quarter. Bartlett & Co. LLC now owns 980 shares of the electric vehicle automaker’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Rivian Automotive in the second quarter valued at about $25,000. Venture Visionary Partners LLC bought a new position in shares of Rivian Automotive in the second quarter valued at about $27,000. Finally, Exane Derivatives bought a new position in shares of Rivian Automotive in the second quarter valued at about $28,000. 62.09% of the stock is owned by institutional investors.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CAO Jeff Baker sold 1,689 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of 34.38, for a total value of 58,067.82. Following the sale, the chief accounting officer now owns 89,331 shares in the company, valued at approximately 3,071,199.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Rivian Automotive news, CAO Jeff Baker sold 1,689 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of 34.38, for a total value of 58,067.82. Following the sale, the chief accounting officer now owns 89,331 shares in the company, valued at approximately 3,071,199.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 14,235 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total value of 497,086.20. Following the completion of the sale, the chief financial officer now owns 81,151 shares in the company, valued at approximately 2,833,792.92. The disclosure for this sale can be found here. 2.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on RIVN. Deutsche Bank Aktiengesellschaft cut their price target on Rivian Automotive from $44.00 to $43.00 in a report on Thursday, November 10th. Wedbush lowered their price objective on Rivian Automotive from $45.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Piper Sandler lowered their price objective on Rivian Automotive from $83.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. Wells Fargo & Company lowered their price objective on Rivian Automotive from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, November 10th. Finally, Canaccord Genuity Group lowered their price objective on Rivian Automotive from $61.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, November 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Rivian Automotive has an average rating of “Moderate Buy” and an average price target of 59.00.

Rivian Automotive Price Performance

Shares of RIVN opened at 30.34 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.39 and a current ratio of 6.84. The stock has a 50 day simple moving average of 33.74 and a 200 day simple moving average of 31.91. Rivian Automotive, Inc. has a 52-week low of 19.25 and a 52-week high of 139.90. The firm has a market capitalization of $27.94 billion and a PE ratio of -2.93.

Rivian Automotive Profile

(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.

Featured Articles

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.