Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lessened its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,173 shares of the electric vehicle automaker’s stock after selling 1,000 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Rivian Automotive were worth $3,938,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Rivian Automotive by 9.7% in the 2nd quarter. BlackRock Inc. now owns 55,827,991 shares of the electric vehicle automaker’s stock worth $930,094,000 after acquiring an additional 4,924,020 shares in the last quarter. Forsta AP Fonden acquired a new position in shares of Rivian Automotive in the 3rd quarter worth approximately $3,054,000. Charles Schwab Investment Management Inc. grew its position in shares of Rivian Automotive by 6.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,650,630 shares of the electric vehicle automaker’s stock worth $27,499,000 after acquiring an additional 95,574 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Rivian Automotive by 15.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,116,848 shares of the electric vehicle automaker’s stock worth $51,397,000 after acquiring an additional 277,522 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Rivian Automotive by 159.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,102,000 shares of the electric vehicle automaker’s stock valued at $51,679,000 after purchasing an additional 1,908,400 shares during the period. Institutional investors and hedge funds own 62.79% of the company’s stock.

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 3,265 shares of Rivian Automotive stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $17.08, for a total value of $55,766.20. Following the transaction, the chief financial officer now directly owns 173,030 shares in the company, valued at approximately $2,955,352.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $15.29 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.64 and a current ratio of 4.61. The stock’s fifty day simple moving average is $19.13 and its 200 day simple moving average is $20.53. Rivian Automotive, Inc. has a 52-week low of $11.68 and a 52-week high of $28.06.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last issued its earnings results on Tuesday, November 7th. The electric vehicle automaker reported ($1.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.17. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Rivian Automotive had a negative return on equity of 42.17% and a negative net margin of 148.97%. The company’s quarterly revenue was up 149.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.57) EPS. As a group, sell-side analysts predict that Rivian Automotive, Inc. will post -5.94 earnings per share for the current year.

Wall Street Analyst Weigh In

RIVN has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on Rivian Automotive in a research report on Thursday, December 7th. They set a “buy” rating and a $23.00 price objective for the company. Barclays reduced their price objective on Rivian Automotive from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. UBS Group upgraded Rivian Automotive from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $26.00 to $24.00 in a research report on Tuesday, October 10th. Evercore ISI upgraded Rivian Automotive from an “in-line” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Monday, October 2nd. Finally, Wells Fargo & Company reduced their price objective on Rivian Automotive from $24.00 to $19.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.24.

Check Out Our Latest Stock Analysis on RIVN

Rivian Automotive Profile

(Free Report)

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

See Also

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

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