Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. increased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 72.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,764 shares of the electric vehicle automaker's stock after acquiring an additional 37,647 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Rivian Automotive were worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in Rivian Automotive by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker's stock worth $492,000 after acquiring an additional 604 shares during the last quarter. Blue Trust Inc. lifted its position in Rivian Automotive by 39.0% in the second quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker's stock valued at $43,000 after buying an additional 907 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Rivian Automotive by 2.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,585,592 shares of the electric vehicle automaker's stock worth $21,279,000 after buying an additional 33,276 shares during the period. Raymond James & Associates increased its position in shares of Rivian Automotive by 11.1% during the second quarter. Raymond James & Associates now owns 152,748 shares of the electric vehicle automaker's stock valued at $2,050,000 after acquiring an additional 15,252 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Rivian Automotive by 462.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 185,700 shares of the electric vehicle automaker's stock valued at $2,492,000 after acquiring an additional 152,700 shares during the period. Hedge funds and other institutional investors own 66.25% of the company's stock.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the completion of the sale, the chief executive officer now owns 863,361 shares in the company, valued at approximately $9,712,811.25. The trade was a 8.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred 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 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. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,904 shares of company stock worth $3,291,004. Corporate insiders own 2.51% of the company's stock.

Analyst Ratings Changes

RIVN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Rivian Automotive from $14.00 to $12.00 and set an "underweight" rating for the company in a research report on Tuesday, October 22nd. Piper Sandler dropped their price objective on Rivian Automotive from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group increased their target price on Rivian Automotive from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Needham & Company LLC dropped their target price on Rivian Automotive from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Mizuho reduced their price target on shares of Rivian Automotive from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.74.

Rivian Automotive Stock Down 11.2 %

Rivian Automotive stock traded down $1.64 during mid-day trading on Wednesday, hitting $13.06. The company had a trading volume of 56,486,289 shares, compared to its average volume of 40,056,395. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of -2.33 and a beta of 2.12. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.61. The business has a fifty day moving average of $11.26 and a 200 day moving average of $12.74.

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.