Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Holdings Boosted by Renaissance Capital LLC

Renaissance Capital LLC grew its stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 20.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 887,551 shares of the electric vehicle automaker's stock after acquiring an additional 148,197 shares during the period. Rivian Automotive accounts for about 6.6% of Renaissance Capital LLC's investment portfolio, making the stock its 6th biggest position. Renaissance Capital LLC owned approximately 0.09% of Rivian Automotive worth $9,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC raised its stake in shares of Rivian Automotive by 74.3% in the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock worth $26,000 after acquiring an additional 831 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker's stock worth $29,000 after acquiring an additional 2,380 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive during the 2nd quarter worth approximately $37,000. First Horizon Advisors Inc. grew its position in shares of Rivian Automotive by 30.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker's stock worth $38,000 after buying an additional 670 shares during the period. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Rivian Automotive during the 1st quarter worth approximately $33,000. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Trading Up 0.9 %

Rivian Automotive stock traded up $0.09 during mid-day trading on Wednesday, hitting $10.24. 17,669,944 shares of the stock were exchanged, compared to its average volume of 39,693,578. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61. The firm's fifty day simple moving average is $12.60 and its two-hundred day simple moving average is $12.27. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of -1.77 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. Analysts forecast that Rivian Automotive, Inc. will post -4.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RIVN. The Goldman Sachs Group lowered their price target on shares of Rivian Automotive from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, October 8th. Wedbush reiterated an "outperform" rating and set a $20.00 price target on shares of Rivian Automotive in a research report on Wednesday, August 7th. Wolfe Research began coverage on shares of Rivian Automotive in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Guggenheim began coverage on shares of Rivian Automotive in a research report on Tuesday, June 25th. They set a "buy" rating and a $18.00 price target for the company. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $15.00 price target on shares of Rivian Automotive in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.18.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $17.02, for a total value of $1,215,721.58. Following the completion of the sale, the chief executive officer now owns 909,691 shares of the company's stock, valued at approximately $15,482,940.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $17.02, for a total value of $1,215,721.58. Following the completion of the sale, the chief executive officer now owns 909,691 shares of the company's stock, valued at approximately $15,482,940.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 241,305 shares of company stock valued at $3,369,273. 2.30% of the stock is owned by company insiders.

About Rivian Automotive

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.