Centiva Capital LP purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 74,193 shares of the electric vehicle automaker's stock, valued at approximately $832,000.
Other large investors have also recently bought and sold shares of the company. Paloma Partners Management Co acquired a new position in shares of Rivian Automotive in the third quarter valued at approximately $753,000. Tradition Wealth Management LLC increased its stake in Rivian Automotive by 11.9% in the 3rd quarter. Tradition Wealth Management LLC now owns 11,755 shares of the electric vehicle automaker's stock valued at $132,000 after buying an additional 1,250 shares during the period. Verition Fund Management LLC purchased a new position in Rivian Automotive during the 3rd quarter worth $1,158,000. Captrust Financial Advisors lifted its stake in shares of Rivian Automotive by 19.4% in the 3rd quarter. Captrust Financial Advisors now owns 41,474 shares of the electric vehicle automaker's stock worth $465,000 after acquiring an additional 6,738 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Rivian Automotive by 2,636.4% in the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker's stock valued at $34,000 after acquiring an additional 2,900 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.
Rivian Automotive Trading Up 5.3 %
Rivian Automotive stock traded up $0.66 during trading on Friday, hitting $13.00. The company's stock had a trading volume of 46,772,074 shares, compared to its average volume of 49,396,280. The stock's fifty day moving average is $10.74 and its 200 day moving average is $12.53. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of -2.32 and a beta of 2.12. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, November 8th. Truist Financial decreased their price target on Rivian Automotive from $16.00 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday, October 16th. Wedbush reiterated an "outperform" rating and issued a $20.00 price objective on shares of Rivian Automotive in a research report on Friday, November 8th. Royal Bank of Canada lowered their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Finally, Bank of America cut shares of Rivian Automotive from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $20.00 to $13.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.73.
Check Out Our Latest Stock Report on Rivian Automotive
Insider Transactions at Rivian Automotive
In other news, CEO Robert J. Scaringe sold 83,333 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the sale, the chief executive officer now owns 886,526 shares of the company's stock, valued at $12,127,675.68. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at $3,796,334.94. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 261,307 shares of company stock valued at $3,178,479 over the last ninety days. Corporate insiders own 2.51% of the company's stock.
Rivian Automotive Company Profile
(
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.
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