Vanguard Personalized Indexing Management LLC Boosts Holdings in Rivian Automotive, Inc. $RIVN

Vanguard Personalized Indexing Management LLC raised its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 15.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 77,017 shares of the electric vehicle automaker’s stock after acquiring an additional 10,083 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Rivian Automotive were worth $1,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Udine Wealth Management Inc. purchased a new stake in Rivian Automotive in the 2nd quarter valued at about $937,000. Aberdeen Group plc lifted its stake in shares of Rivian Automotive by 10.5% in the 2nd quarter. Aberdeen Group plc now owns 1,681,152 shares of the electric vehicle automaker’s stock valued at $23,099,000 after purchasing an additional 159,566 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Rivian Automotive by 9.5% in the 2nd quarter. Blair William & Co. IL now owns 45,076 shares of the electric vehicle automaker’s stock valued at $619,000 after purchasing an additional 3,909 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Rivian Automotive by 185.1% in the 2nd quarter. Vontobel Holding Ltd. now owns 450,318 shares of the electric vehicle automaker’s stock valued at $6,187,000 after purchasing an additional 292,344 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Rivian Automotive by 3.3% in the 2nd quarter. QRG Capital Management Inc. now owns 45,963 shares of the electric vehicle automaker’s stock valued at $632,000 after purchasing an additional 1,465 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $12.28, for a total value of $88,993.16. Following the transaction, the chief financial officer directly owned 789,445 shares of the company’s stock, valued at $9,694,384.60. This represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $244,300.00. Following the completion of the transaction, the chief executive officer directly owned 1,316,205 shares in the company, valued at approximately $18,426,870. The trade was a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,147 shares of company stock worth $577,593. 2.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RIVN shares. UBS Group lifted their price objective on Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Mizuho lifted their price objective on Rivian Automotive from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Wedbush reduced their price objective on Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.90.

Rivian Automotive Stock Performance

Rivian Automotive stock opened at $13.03 on Friday. The stock’s 50 day moving average price is $13.60 and its 200 day moving average price is $13.45. The firm has a market capitalization of $15.81 billion, a PE ratio of -4.03 and a beta of 1.82. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.72 and a current ratio of 3.44. Rivian Automotive, Inc. has a one year low of $9.50 and a one year high of $17.15.

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

Rivian Automotive 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.