Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by Choreo LLC

Choreo LLC increased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) by 27.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,780 shares of the electric vehicle automaker’s stock after buying an additional 2,724 shares during the period. Choreo LLC’s holdings in Rivian Automotive were worth $140,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in shares of Rivian Automotive by 35.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after purchasing an additional 25,550,489 shares during the last quarter. Baillie Gifford & Co. increased its position in Rivian Automotive by 714.3% during the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after buying an additional 22,194,018 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rivian Automotive by 1,521.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after acquiring an additional 5,937,605 shares during the last quarter. Norges Bank acquired a new stake in shares of Rivian Automotive during the fourth quarter valued at $129,427,000. Finally, Vanguard Group Inc. increased its position in Rivian Automotive by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after purchasing an additional 4,467,881 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

RIVN opened at $15.49 on Tuesday. The firm’s 50 day moving average is $11.38 and its 200-day moving average is $13.08. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $28.06. The company has a current ratio of 4.71, a quick ratio of 3.55 and a debt-to-equity ratio of 0.55.

Rivian Automotive (NASDAQ:RIVNGet Free Report) last announced its earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.38) by ($0.03). Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, equities research analysts predict that Rivian Automotive, Inc. will post -4.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the completion of the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,234,023.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on RIVN shares. Cantor Fitzgerald upped their target price on shares of Rivian Automotive from $15.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Guggenheim began coverage on shares of Rivian Automotive in a research note on Tuesday, June 25th. They set a “buy” rating and a $18.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Rivian Automotive from $11.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Monday, July 1st. JPMorgan Chase & Co. increased their price target on Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 26th. Finally, UBS Group raised their price objective on Rivian Automotive from $10.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive currently has a consensus rating of “Moderate Buy” and an average price target of $19.04.

Read Our Latest Stock Analysis on RIVN

Rivian Automotive Company Profile

(Free Report)

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.

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

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