Robeco Institutional Asset Management B.V. Boosts Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

Robeco Institutional Asset Management B.V. lifted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 1,090.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,384 shares of the electric vehicle automaker's stock after purchasing an additional 155,150 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Rivian Automotive were worth $1,900,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RIVN. Quent Capital LLC increased its holdings in shares of Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock valued at $26,000 after acquiring an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker's stock valued at $29,000 after acquiring an additional 2,380 shares during the period. GHP Investment Advisors Inc. raised its stake in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Rivian Automotive during the 2nd quarter worth about $37,000. Finally, First Horizon Advisors Inc. grew its stake in 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 purchasing an additional 670 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial dropped their target price on Rivian Automotive from $16.00 to $12.00 and set a "hold" rating on the stock in a research report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Rivian Automotive in a research report on Thursday, September 5th. They set a "peer perform" rating for the company. Canaccord Genuity Group lowered their price target on shares of Rivian Automotive from $30.00 to $28.00 and set a "buy" rating on the stock in a report on Monday, October 7th. Wells Fargo & Company reduced their price objective on Rivian Automotive from $15.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada dropped their target price on Rivian Automotive from $14.00 to $12.00 and set a "sector perform" rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $15.77.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the transaction, the chief executive officer now owns 886,526 shares of the company's stock, valued at approximately $12,127,675.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Claire Mcdonough sold 3,210 shares of the company'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 transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.68, for a total value of $1,139,995.44. Following the sale, the chief executive officer now directly owns 886,526 shares of the company's stock, valued at approximately $12,127,675.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,876 shares of company stock valued at $2,153,551. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Price Performance

RIVN stock traded up $0.54 during mid-day trading on Friday, reaching $10.59. The company's stock had a trading volume of 58,725,001 shares, compared to its average volume of 26,876,380. The stock has a market cap of $10.68 billion, a PE ratio of -1.89 and a beta of 2.04. The company's 50 day moving average is $11.36 and its two-hundred day moving average is $12.36. 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 current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81.

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.