Blair William & Co. IL Acquires 930 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Blair William & Co. IL raised its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,167 shares of the electric vehicle automaker’s stock after buying an additional 930 shares during the quarter. Blair William & Co. IL’s holdings in Rivian Automotive were worth $513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RIVN. Brighton Jones LLC increased its holdings in Rivian Automotive by 28.0% in the 4th quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock valued at $235,000 after buying an additional 3,864 shares during the period. Bank of Nova Scotia increased its position in shares of Rivian Automotive by 34.7% during the 4th quarter. Bank of Nova Scotia now owns 45,344 shares of the electric vehicle automaker’s stock worth $604,000 after purchasing an additional 11,678 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Rivian Automotive by 8.3% during the 4th quarter. Advisory Services Network LLC now owns 17,158 shares of the electric vehicle automaker’s stock worth $228,000 after purchasing an additional 1,314 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Rivian Automotive by 57.0% during the 4th quarter. Sterling Capital Management LLC now owns 50,034 shares of the electric vehicle automaker’s stock worth $665,000 after purchasing an additional 18,161 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Rivian Automotive by 34.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 50,156 shares of the electric vehicle automaker’s stock worth $666,000 after purchasing an additional 12,867 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RIVN. Needham & Company LLC dropped their target price on shares of Rivian Automotive from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Guggenheim cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. UBS Group dropped their target price on shares of Rivian Automotive from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Canaccord Genuity Group dropped their target price on shares of Rivian Automotive from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company reduced their price target on shares of Rivian Automotive from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and a consensus target price of $13.73.

Rivian Automotive Stock Performance

Rivian Automotive stock opened at $11.93 on Tuesday. The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. Rivian Automotive, Inc. has a 1 year low of $9.50 and a 1 year high of $17.15. The company has a market cap of $13.49 billion, a PE ratio of -3.69 and a beta of 1.80. The company’s 50-day moving average is $13.33 and its two-hundred day moving average is $12.96.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.32). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.46) earnings per share. Equities analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 71,428 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $15.36, for a total value of $1,097,134.08. Following the sale, the chief executive officer directly owned 1,483,111 shares in the company, valued at $22,780,584.96. This trade represents a 4.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 17,185 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.39, for a total transaction of $264,477.15. Following the completion of the sale, the chief financial officer owned 824,875 shares in the company, valued at $12,694,826.25. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,757 shares of company stock worth $2,995,557 over the last quarter. 2.16% of the stock is currently owned by corporate insiders.

Rivian Automotive Profile

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.