Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 92.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 241,085 shares of the electric vehicle automaker's stock after selling 3,056,248 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Rivian Automotive were worth $3,235,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Principal Securities Inc. purchased a new position in shares of Rivian Automotive during the 4th quarter valued at approximately $33,000. Fairman Group LLC acquired a new stake in shares of Rivian Automotive in the fourth quarter valued at about $36,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Rivian Automotive during the fourth quarter worth about $40,000. Private Wealth Management Group LLC purchased a new stake in shares of Rivian Automotive during the fourth quarter worth about $44,000. Finally, Quent Capital LLC raised its position in shares of Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock worth $26,000 after purchasing an additional 831 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Rivian Automotive Trading Up 0.3 %

Shares of Rivian Automotive stock traded up $0.04 during trading hours on Monday, hitting $14.13. The company's stock had a trading volume of 22,865,400 shares, compared to its average volume of 41,466,625. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of -2.45 and a beta of 2.09. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.87. The firm has a fifty day moving average of $14.98 and a 200-day moving average of $12.27.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing analysts' consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Research analysts forecast that Rivian Automotive, Inc. will post -4.72 EPS for the current year.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the sale, the chief financial officer now owns 392,662 shares of the company's stock, valued at $5,328,423.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rivian Automotive news, CEO Robert J. Scaringe sold 200,000 shares of the firm's stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the transaction, the chief executive officer now owns 909,691 shares of the company's stock, valued at approximately $16,374,438. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the sale, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 488,926 shares of company stock valued at $7,552,869. Company insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Mizuho boosted their price objective on Rivian Automotive from $11.00 to $15.00 and gave the stock a "neutral" rating in a research note on Friday, July 12th. UBS Group dropped their price target on Rivian Automotive from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Barclays raised their price objective on Rivian Automotive from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Tuesday, July 16th. Guggenheim initiated coverage on shares of Rivian Automotive in a research note on Tuesday, June 25th. They set a "buy" rating and a $18.00 target price on the stock. Finally, DA Davidson increased their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $18.14.

Rivian Automotive Company 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.