Ameritas Advisory Services LLC Makes New $81,000 Investment in Rivian Automotive, Inc. $RIVN

Ameritas Advisory Services LLC bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the second quarter, HoldingsChannel.com reports. The fund bought 5,864 shares of the electric vehicle automaker’s stock, valued at approximately $81,000.

A number of other large investors have also added to or reduced their stakes in RIVN. Teacher Retirement System of Texas bought a new stake in shares of Rivian Automotive during the 1st quarter valued at $1,382,000. Caisse Des Depots ET Consignations bought a new position in shares of Rivian Automotive in the 1st quarter valued at about $2,807,000. Ethos Financial Group LLC purchased a new stake in Rivian Automotive in the 1st quarter worth about $311,000. Intech Investment Management LLC raised its position in Rivian Automotive by 522.0% in the 1st quarter. Intech Investment Management LLC now owns 350,965 shares of the electric vehicle automaker’s stock worth $4,370,000 after purchasing an additional 294,539 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Rivian Automotive by 24.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 293,800 shares of the electric vehicle automaker’s stock worth $4,037,000 after acquiring an additional 57,500 shares during the period. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Trading Down 2.2%

RIVN opened at $12.80 on Friday. The stock has a market capitalization of $15.53 billion, a PE ratio of -3.96 and a beta of 1.82. Rivian Automotive, Inc. has a 12-month low of $9.50 and a 12-month high of $17.15. The firm’s fifty day moving average price is $13.50 and its 200 day moving average price is $13.42. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.44 and a quick ratio of 2.72.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.32). Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company posted ($1.46) earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the transaction, the chief financial officer directly owned 789,445 shares in the company, valued at $9,694,384.60. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert J. Scaringe sold 17,450 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total transaction of $244,300.00. Following the completion of the transaction, the chief executive officer owned 1,316,205 shares in the company, valued at approximately $18,426,870. This represents a 1.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,147 shares of company stock valued at $577,593. Insiders own 2.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Rivian Automotive from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Cfra Research raised shares of Rivian Automotive to a “moderate sell” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Rivian Automotive in a research note on Wednesday. Wall Street Zen cut shares of Rivian Automotive from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, The Goldman Sachs Group increased their target price on shares of Rivian Automotive from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, September 29th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Rivian Automotive has a consensus rating of “Hold” and an average price target of $13.90.

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.