abrdn plc increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,439,143 shares of the electric vehicle automaker's stock after purchasing an additional 518,561 shares during the period. abrdn plc owned approximately 0.34% of Rivian Automotive worth $38,587,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Rivian Automotive by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker's stock worth $492,000 after purchasing an additional 604 shares in the last quarter. First Horizon Advisors Inc. lifted 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 valued at $38,000 after acquiring an additional 670 shares during the period. GAMMA Investing LLC lifted its position in shares of Rivian Automotive by 28.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker's stock worth $47,000 after buying an additional 760 shares during the last quarter. Certuity LLC raised its position in Rivian Automotive by 8.1% in the second quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker's stock valued at $145,000 after purchasing an additional 815 shares during the last quarter. Finally, Sanders Morris Harris LLC raised its position in Rivian Automotive by 8.9% in the second quarter. Sanders Morris Harris LLC now owns 10,105 shares of the electric vehicle automaker's stock valued at $136,000 after purchasing an additional 823 shares during the last quarter. Institutional investors own 66.25% of the company's stock.
Insiders Place Their Bets
In related news, CFO Claire Mcdonough sold 3,210 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares of the company's stock, valued at approximately $5,328,423.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Robert J. Scaringe sold 83,333 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the completion of the sale, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the firm'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 transaction 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,876 shares of company stock valued at $2,153,551. Company insiders own 2.51% of the company's stock.
Rivian Automotive Stock Performance
Shares of NASDAQ RIVN traded down $0.19 during mid-day trading on Thursday, hitting $10.20. The stock had a trading volume of 15,833,052 shares, compared to its average volume of 38,840,328. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25. The company has a 50 day moving average of $11.88 and a two-hundred day moving average of $12.27. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. The firm has a market cap of $10.28 billion, a PE ratio of -1.69 and a beta of 2.03.
Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. Research analysts predict that Rivian Automotive, Inc. will post -4.84 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on RIVN shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $14.00 target price on shares of Rivian Automotive in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on Rivian Automotive in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company. The Goldman Sachs Group reduced their target price on Rivian Automotive from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, October 8th. Barclays dropped their price target on Rivian Automotive from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 15th. Finally, Truist Financial dropped their price target on Rivian Automotive from $16.00 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.09.
Check Out Our Latest Stock Analysis on RIVN
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.
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