Assenagon Asset Management S.A. Buys 10,408 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Assenagon Asset Management S.A. boosted its stake in Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,385 shares of the electric vehicle automaker’s stock after acquiring an additional 10,408 shares during the period. Assenagon Asset Management S.A.’s holdings in Rivian Automotive were worth $790,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RIVN. Charles Schwab Investment Management Inc. increased its position in shares of Rivian Automotive by 79.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock worth $51,693,000 after buying an additional 2,035,831 shares during the period. International Assets Investment Management LLC boosted its position in Rivian Automotive by 1,870.7% during the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock valued at $608,000 after acquiring an additional 51,464 shares during the last quarter. Mizuho Markets Americas LLC grew its holdings in Rivian Automotive by 30.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after acquiring an additional 124,950 shares during the period. Vontobel Holding Ltd. raised its position in shares of Rivian Automotive by 543.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock worth $1,601,000 after acquiring an additional 120,544 shares in the last quarter. Finally, Renaissance Capital LLC lifted its stake in shares of Rivian Automotive by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock valued at $9,958,000 after purchasing an additional 148,197 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 35,713 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $13.76, for a total value of $491,410.88. Following the transaction, the chief executive officer now directly owns 863,361 shares in the company, valued at $11,879,847.36. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the transaction, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 363,142 shares of company stock valued at $4,958,860. 2.51% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RIVN. Barclays raised their target price on Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Mizuho cut their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Bank of America downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $13.00 in a research note on Friday, November 8th. Finally, Robert W. Baird restated a “neutral” rating and issued a $16.00 target price (down from $18.00) on shares of Rivian Automotive in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.52.

View Our Latest Report on Rivian Automotive

Rivian Automotive Trading Up 2.2 %

NASDAQ:RIVN opened at $12.77 on Friday. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $18.85. The firm has a 50-day moving average price of $13.19 and a two-hundred day moving average price of $13.01. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of -2.28 and a beta of 2.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

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.

See Also

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

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