Bailard Inc. Purchases New Stake in Rivian Automotive, Inc. $RIVN

Bailard Inc. acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 40,817 shares of the electric vehicle automaker’s stock, valued at approximately $561,000.

Several other large investors also recently added to or reduced their stakes in RIVN. Assetmark Inc. grew its stake in shares of Rivian Automotive by 315.6% in the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after buying an additional 1,357 shares in the last quarter. Banque Transatlantique SA boosted its holdings 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 valued at $26,000 after acquiring an additional 2,243 shares during the period. Fairman Group LLC purchased a new position in Rivian Automotive during the 2nd quarter valued at about $31,000. WPG Advisers LLC acquired a new position in Rivian Automotive in the 1st quarter valued at about $34,000. Finally, PFS Partners LLC increased its stake in Rivian Automotive by 50.5% during the second 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 during the period. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

Shares of RIVN opened at $15.11 on Friday. The firm has a market capitalization of $18.52 billion, a price-to-earnings ratio of -4.86 and a beta of 1.81. The firm’s fifty day simple moving average is $14.17 and its 200-day simple moving average is $13.83. Rivian Automotive, Inc. has a twelve month low of $9.55 and a twelve month high of $18.13. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87.

Analysts Set New Price Targets

Several research analysts have recently commented on RIVN shares. Canaccord Genuity Group reissued a “buy” rating and issued a $21.00 price objective on shares of Rivian Automotive in a research note on Friday, October 3rd. Tigress Financial raised their price target on shares of Rivian Automotive from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley dropped their price target on shares of Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Rivian Automotive in a research report on Monday, August 25th. Finally, The Goldman Sachs Group decreased their target price on Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Rivian Automotive has an average rating of “Hold” and a consensus price target of $14.30.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 52,350 shares of Rivian Automotive stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total transaction of $869,010.00. Following the completion of the sale, the chief executive officer directly owned 1,246,405 shares of the company’s stock, valued at $20,690,323. The trade was a 4.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Claire Mcdonough sold 7,247 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $12.28, for a total value of $88,993.16. Following the transaction, the chief financial officer directly owned 789,445 shares of the company’s stock, valued at approximately $9,694,384.60. This represents a 0.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 94,497 shares of company stock worth $1,446,603. 2.16% of the stock is owned by insiders.

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.