Quantbot Technologies LP Has $5.58 Million Holdings in Rivian Automotive, Inc. $RIVN

Quantbot Technologies LP grew its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 450.0% during the 3rd quarter, Holdings Channel reports. The firm owned 380,228 shares of the electric vehicle automaker’s stock after purchasing an additional 311,090 shares during the period. Quantbot Technologies LP’s holdings in Rivian Automotive were worth $5,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RIVN. Assetmark Inc. lifted its holdings in Rivian Automotive by 315.6% in the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after buying an additional 1,357 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Rivian Automotive by 113.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 1,000 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Rivian Automotive during the 3rd quarter valued at $30,000. Hemington Wealth Management lifted its stake in shares of Rivian Automotive by 291.0% in the 3rd quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker’s stock valued at $31,000 after purchasing an additional 1,580 shares during the period. Finally, Root Financial Partners LLC bought a new position in shares of Rivian Automotive in the 3rd quarter worth $45,000. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Trading Down 1.8%

RIVN opened at $15.33 on Friday. The stock has a market capitalization of $19.02 billion, a P/E ratio of -4.99 and a beta of 1.76. The company has a current ratio of 2.33, a quick ratio of 1.89 and a debt-to-equity ratio of 0.97. Rivian Automotive, Inc. has a 12 month low of $10.36 and a 12 month high of $22.69. The firm’s fifty day simple moving average is $17.11 and its 200 day simple moving average is $15.57.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.02. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative return on equity of 65.05% and a negative net margin of 67.68%.The company’s revenue for the quarter was down 25.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.70) EPS. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RIVN shares. Morgan Stanley reiterated an “underweight” rating and issued a $12.00 price objective on shares of Rivian Automotive in a report on Monday, December 8th. Zacks Research raised Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Wedbush reissued an “outperform” rating and set a $25.00 price objective on shares of Rivian Automotive in a research note on Friday, February 13th. Evercore restated an “outperform” rating on shares of Rivian Automotive in a report on Monday, December 15th. Finally, Robert W. Baird upgraded shares of Rivian Automotive from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $14.00 to $25.00 in a report on Thursday, December 18th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and a consensus price target of $18.10.

Insider Buying and Selling at Rivian Automotive

In other news, Director Peter Krawiec sold 3,655 shares of Rivian Automotive stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $19.45, for a total value of $71,089.75. Following the sale, the director directly owned 29,122 shares in the company, valued at $566,422.90. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 34,900 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $586,320.00. Following the completion of the sale, the chief executive officer directly owned 1,044,731 shares in the company, valued at approximately $17,551,480.80. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 164,737 shares of company stock worth $2,922,209. Corporate insiders own 2.16% of the company’s stock.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.