Rivian Automotive, Inc. $RIVN Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 61.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,427 shares of the electric vehicle automaker’s stock after selling 94,675 shares during the period. Intech Investment Management LLC’s holdings in Rivian Automotive were worth $1,152,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Rivian Automotive by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock worth $1,198,967,000 after acquiring an additional 2,597,310 shares during the period. Capital International Investors lifted its stake in Rivian Automotive by 13.4% in the 3rd quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker’s stock valued at $269,395,000 after buying an additional 2,161,394 shares in the last quarter. Geode Capital Management LLC lifted its stake in Rivian Automotive by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 14,782,865 shares of the electric vehicle automaker’s stock valued at $290,568,000 after buying an additional 59,503 shares in the last quarter. Soma Equity Partners LP lifted its stake in Rivian Automotive by 9.9% in the 3rd quarter. Soma Equity Partners LP now owns 9,204,745 shares of the electric vehicle automaker’s stock valued at $135,126,000 after buying an additional 829,782 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Rivian Automotive by 16.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,512,612 shares of the electric vehicle automaker’s stock valued at $110,342,000 after buying an additional 1,072,553 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Trending Headlines about Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian shares have been rising as investors bet on strong reception for the upcoming R2 SUV launch, with some commentary calling it a potentially transformative step for the company. Here’s Why Rivian Stock Jumped This Week
• Positive Sentiment: Volkswagen’s $1 billion investment and minority stake in Rivian add validation to the company’s strategy and may improve investor confidence ahead of the R2 rollout. Volkswagen’s Rivian Stake Puts Focus On R2 Launch And Valuation Gap
• Positive Sentiment: TD Cowen reiterated a buy rating on Rivian, and unusual options activity showed heavy call buying, signaling that traders are still leaning bullish on the stock. Rivian Automotive (NASDAQ:RIVN) Given “Buy” Rating at TD Cowen
• Positive Sentiment: AT&T-related coverage highlighted Rivian as part of a connected-car growth story, with 5G support for the R2 potentially strengthening the vehicle’s appeal. Can AT&T’s Extended Tie-Ups for Connected Car Accelerate Growth?
• Neutral Sentiment: Some articles are framing Rivian as a high-risk, high-reward stock, noting that investors are waiting to see whether the R2 launch can justify the recent run-up in shares. If You Buy Rivian Right Now, Could It Make You a Millionaire?
• Negative Sentiment: The biggest risk for Rivian is that the stock’s recent strength is tied to expectations, so any disappointment around the R2 launch or demand outlook could pressure shares. Rivian: Wait For The R2 Launch

Rivian Automotive Trading Down 9.8%

Shares of RIVN opened at $16.35 on Friday. The stock has a fifty day moving average of $15.45 and a two-hundred day moving average of $16.33. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. The company has a market capitalization of $20.29 billion, a PE ratio of -5.60 and a beta of 1.62. Rivian Automotive, Inc. has a fifty-two week low of $11.57 and a fifty-two week high of $22.69.

Analysts Set New Price Targets

RIVN has been the topic of a number of recent research reports. Piper Sandler reduced their target price on Rivian Automotive from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Wells Fargo & Company upped their target price on Rivian Automotive from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Bank of America initiated coverage on Rivian Automotive in a research note on Wednesday, March 4th. They issued an “underperform” rating and a $14.00 target price on the stock. Tigress Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a research note on Friday, April 10th. Finally, UBS Group raised Rivian Automotive from a “sell” rating to a “neutral” rating and upped their target price for the company from $15.00 to $16.00 in a research note on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Rivian Automotive has a consensus rating of “Hold” and a consensus price target of $18.57.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 34,818 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the completion of the transaction, the chief executive officer directly owned 922,286 shares in the company, valued at approximately $13,834,290. The trade was a 3.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $18.00, for a total value of $184,410.00. Following the completion of the transaction, the chief financial officer owned 946,814 shares of the company’s stock, valued at $17,042,652. This trade represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 117,790 shares of company stock valued at $1,832,466 over the last quarter. 1.48% of the stock is currently owned by insiders.

Rivian Automotive Company Profile

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.