Ameritas Advisory Services LLC Takes $81,000 Position in Rivian Automotive, Inc. $RIVN

Ameritas Advisory Services LLC bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,864 shares of the electric vehicle automaker’s stock, valued at approximately $81,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Transatlantique SA boosted its position in Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 2,243 shares during the period. WPG Advisers LLC bought a new position in Rivian Automotive in the 1st quarter worth approximately $34,000. PFS Partners LLC grew its holdings in shares of Rivian Automotive by 50.5% during the 2nd quarter. PFS Partners LLC now owns 2,982 shares of the electric vehicle automaker’s stock worth $41,000 after purchasing an additional 1,000 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Rivian Automotive during the 1st quarter worth approximately $37,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Rivian Automotive by 107.9% during the 1st quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker’s stock worth $41,000 after purchasing an additional 1,714 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 7,247 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $12.28, for a total value of $88,993.16. Following the sale, the chief financial officer owned 789,445 shares in the company, valued at approximately $9,694,384.60. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Robert J. Scaringe sold 17,450 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $14.00, for a total value of $244,300.00. Following the completion of the sale, the chief executive officer owned 1,316,205 shares in the company, valued at $18,426,870. This trade represents a 1.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,147 shares of company stock worth $577,593. Company insiders own 2.16% of the company’s stock.

Analyst Ratings Changes

RIVN has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Rivian Automotive from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Wednesday, August 6th. Morgan Stanley lowered their price target on Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. The Goldman Sachs Group upped their price objective on Rivian Automotive from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, September 29th. Guggenheim downgraded Rivian Automotive from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, Wall Street Zen cut Rivian Automotive from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average price target of $13.90.

Rivian Automotive Stock Down 2.2%

RIVN stock opened at $12.80 on Friday. The stock’s 50 day simple moving average is $13.50 and its 200 day simple moving average is $13.42. Rivian Automotive, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $17.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.72 and a current ratio of 3.44. The company has a market cap of $15.53 billion, a P/E ratio of -3.96 and a beta of 1.82.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned ($1.46) earnings per share. On average, research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Rivian Automotive Company 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.