Vanguard Group Inc. Boosts Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Vanguard Group Inc. lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,845,364 shares of the electric vehicle automaker’s stock after acquiring an additional 408,677 shares during the period. Vanguard Group Inc. owned 6.67% of Rivian Automotive worth $1,550,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Eaton Vance Management increased its position in shares of Rivian Automotive by 6.8% during the 1st quarter. Eaton Vance Management now owns 7,843 shares of the electric vehicle automaker’s stock worth $394,000 after purchasing an additional 497 shares during the last quarter. Gould Capital LLC grew its position in Rivian Automotive by 32.6% in the 2nd quarter. Gould Capital LLC now owns 2,035 shares of the electric vehicle automaker’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. D.A. Davidson & CO. grew its position in Rivian Automotive by 9.1% in the 1st quarter. D.A. Davidson & CO. now owns 6,176 shares of the electric vehicle automaker’s stock valued at $310,000 after acquiring an additional 515 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Rivian Automotive by 1.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 35,904 shares of the electric vehicle automaker’s stock valued at $662,000 after acquiring an additional 577 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its position in Rivian Automotive by 1,329.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 629 shares of the electric vehicle automaker’s stock valued at $32,000 after acquiring an additional 585 shares in the last quarter. 62.79% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Trading Up 3.3 %

Shares of NASDAQ RIVN opened at $11.40 on Tuesday. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. Rivian Automotive, Inc. has a twelve month low of $10.05 and a twelve month high of $28.06. The stock has a 50 day moving average of $14.52 and a two-hundred day moving average of $18.00.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. Rivian Automotive had a negative return on equity of 45.97% and a negative net margin of 122.51%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. On average, research analysts expect that Rivian Automotive, Inc. will post -4.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wolfe Research reaffirmed a “peer perform” rating on shares of Rivian Automotive in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $19.00 price objective (down from $29.00) on shares of Rivian Automotive in a research report on Wednesday, January 17th. Wells Fargo & Company lowered their price objective on Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Needham & Company LLC lowered their price objective on Rivian Automotive from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Finally, Mizuho lowered their price objective on Rivian Automotive from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.78.

View Our Latest Report on Rivian Automotive

Insider Activity

In other news, CFO Claire Mcdonough sold 2,946 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now owns 155,749 shares of the company’s stock, valued at $2,523,133.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.81, for a total value of $255,367.35. Following the sale, the insider now owns 407,787 shares of the company’s stock, valued at $5,223,751.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 2,946 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the completion of the sale, the chief financial officer now directly owns 155,749 shares in the company, valued at approximately $2,523,133.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,306 shares of company stock valued at $717,274. Company insiders own 2.30% of the company’s stock.

About Rivian Automotive

(Free Report)

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.

Further Reading

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

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