Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 107.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,241 shares of the electric vehicle automaker's stock after buying an additional 44,700 shares during the quarter. Janus Henderson Group PLC's holdings in Rivian Automotive were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Rivian Automotive Price Performance

Shares of Rivian Automotive stock traded up $0.17 during mid-day trading on Friday, reaching $14.37. 32,045,961 shares of the stock traded hands, compared to its average volume of 39,959,258. The stock has a market capitalization of $14.67 billion, a PE ratio of -2.57 and a beta of 2.12. The business has a 50-day moving average of $11.08 and a 200 day moving average of $12.66. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.61. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the transaction, the chief executive officer now owns 863,361 shares of the company's stock, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares of the company's stock, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,974 shares of company stock valued at $2,038,483. 2.51% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Benchmark assumed coverage on shares of Rivian Automotive in a report on Monday, December 9th. They issued a "buy" rating and a $18.00 price target on the stock. Guggenheim cut their price objective on shares of Rivian Automotive from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Stifel Nicolaus reduced their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a report on Monday, November 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $19.00 price target on shares of Rivian Automotive in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. cut their price target on Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.83.

Rivian Automotive Profile

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.