Exane Derivatives Takes Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Exane Derivatives acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,088 shares of the electric vehicle automaker’s stock, valued at approximately $28,000.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. acquired a new stake in shares of Rivian Automotive in the first quarter valued at $51,000. Raymond James & Associates raised its position in shares of Rivian Automotive by 42.2% during the first quarter. Raymond James & Associates now owns 179,015 shares of the electric vehicle automaker’s stock worth $8,994,000 after purchasing an additional 53,132 shares during the period. M Holdings Securities Inc. acquired a new stake in shares of Rivian Automotive during the first quarter worth $369,000. MBL Wealth LLC acquired a new stake in shares of Rivian Automotive during the first quarter worth $271,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Rivian Automotive by 8.1% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 25,500 shares of the electric vehicle automaker’s stock worth $1,281,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 62.09% of the company’s stock.

Insider Transactions at Rivian Automotive

In other news, CAO Jeff Baker sold 1,753 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of 37.27, for a total transaction of 65,334.31. Following the completion of the sale, the chief accounting officer now owns 79,666 shares in the company, valued at approximately 2,969,151.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIVN. Canaccord Genuity Group began coverage on Rivian Automotive in a research report on Wednesday, July 13th. They set a “buy” rating on the stock. Wedbush boosted their target price on Rivian Automotive from $30.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 8th. Mizuho dropped their price target on Rivian Automotive from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. Canaccord Genuity Group started coverage on Rivian Automotive in a research report on Wednesday, July 13th. They set a “buy” rating and a $61.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on Rivian Automotive from $24.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of 65.89.

Rivian Automotive Stock Performance

RIVN opened at 35.10 on Thursday. The company has a market cap of $32.16 billion and a PE ratio of -1.70. The stock has a 50-day moving average of 34.84 and a 200-day moving average of 34.22. Rivian Automotive, Inc. has a 52-week low of 19.25 and a 52-week high of 179.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 8.60 and a current ratio of 8.97.

About Rivian Automotive

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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.

Further Reading

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

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