Kestra Private Wealth Services LLC Has $407,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Kestra Private Wealth Services LLC grew its holdings in Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) by 41.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,097 shares of the electric vehicle automaker’s stock after purchasing an additional 2,356 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Rivian Automotive were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coatue Management LLC bought a new position in shares of Rivian Automotive during the 4th quarter worth approximately $3,652,616,000. BlackRock Inc. bought a new stake in Rivian Automotive in the fourth quarter valued at $3,195,595,000. Capital Research Global Investors acquired a new position in shares of Rivian Automotive during the fourth quarter valued at about $2,562,520,000. D1 Capital Partners L.P. bought a new position in shares of Rivian Automotive during the 4th quarter worth about $1,616,629,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Rivian Automotive in the 4th quarter valued at about $1,071,039,000. Institutional investors own 62.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho cut their price target on Rivian Automotive from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Canaccord Genuity Group initiated coverage on shares of Rivian Automotive in a research note on Wednesday, July 13th. They issued a “buy” rating on the stock. Wedbush lifted their price target on Rivian Automotive from $30.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 8th. DA Davidson upped their price target on Rivian Automotive from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, August 12th. Finally, Wells Fargo & Company raised their price objective on Rivian Automotive from $24.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Moderate Buy” and an average price target of 65.89.

Insider Activity

In other Rivian Automotive news, CAO Jeff Baker sold 1,753 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of 37.27, for a total value of 65,334.31. Following the sale, the chief accounting officer now owns 79,666 shares of the company’s stock, valued at approximately 2,969,151.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.34% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at 37.94 on Tuesday. The firm has a market cap of $34.76 billion and a price-to-earnings ratio of -1.83. Rivian Automotive, Inc. has a 12-month low of 19.25 and a 12-month high of 179.47. The company has a 50-day simple moving average of 34.64 and a two-hundred day simple moving average of 34.41. The company has a quick ratio of 8.60, a current ratio of 8.97 and a debt-to-equity ratio of 0.07.

Rivian Automotive Profile

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Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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