MASTERINVEST Kapitalanlage GmbH Invests $859,000 in Rivian Automotive, Inc. $RIVN

MASTERINVEST Kapitalanlage GmbH acquired a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 62,499 shares of the electric vehicle automaker’s stock, valued at approximately $859,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assetmark Inc. lifted its position in Rivian Automotive by 315.6% during the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,357 shares in the last quarter. Banque Transatlantique SA lifted its position in shares of Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 2,243 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 1,000 shares in the last quarter. Fairman Group LLC bought a new stake in Rivian Automotive during the 2nd quarter worth approximately $31,000. Finally, WPG Advisers LLC bought a new stake in Rivian Automotive during the 1st quarter worth approximately $34,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 52,350 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total value of $869,010.00. Following the completion of the transaction, the chief executive officer directly owned 1,246,405 shares of the company’s stock, valued at approximately $20,690,323. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 21,210 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $17.14, for a total transaction of $363,539.40. Following the completion of the sale, the chief financial officer owned 738,056 shares in the company, valued at $12,650,279.84. This represents a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 133,949 shares of company stock valued at $2,191,119 in the last 90 days. 2.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RIVN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rivian Automotive in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Rivian Automotive from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Stifel Nicolaus raised their price target on Rivian Automotive from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, November 17th. Zacks Research raised Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Cfra Research upgraded Rivian Automotive to a “moderate sell” rating in a research report on Thursday, October 2nd. Six analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.86.

Rivian Automotive Trading Up 12.1%

Shares of Rivian Automotive stock opened at $18.42 on Monday. Rivian Automotive, Inc. has a twelve month low of $10.36 and a twelve month high of $19.60. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $14.97 and a 200-day moving average price of $14.05. The firm has a market cap of $22.58 billion, a price-to-earnings ratio of -5.92 and a beta of 1.79.

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.