Caisse Des Depots ET Consignations Buys 49,722 Shares of Rivian Automotive, Inc. $RIVN

Caisse Des Depots ET Consignations boosted its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 55.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,000 shares of the electric vehicle automaker’s stock after purchasing an additional 49,722 shares during the period. Caisse Des Depots ET Consignations’ holdings in Rivian Automotive were worth $2,041,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Rivian Automotive by 2.6% during the second quarter. Vanguard Group Inc. now owns 79,076,202 shares of the electric vehicle automaker’s stock worth $1,086,507,000 after buying an additional 1,983,509 shares during the period. Geode Capital Management LLC lifted its stake in Rivian Automotive by 4.9% in the 2nd quarter. Geode Capital Management LLC now owns 14,614,204 shares of the electric vehicle automaker’s stock valued at $200,200,000 after acquiring an additional 689,045 shares in the last quarter. Norges Bank acquired a new position in Rivian Automotive during the 2nd quarter worth approximately $105,629,000. Charles Schwab Investment Management Inc. grew its stake in shares of Rivian Automotive by 15.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,849,818 shares of the electric vehicle automaker’s stock worth $80,376,000 after acquiring an additional 799,030 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Rivian Automotive by 11.1% in the second quarter. Swiss National Bank now owns 2,379,400 shares of the electric vehicle automaker’s stock valued at $32,693,000 after purchasing an additional 237,200 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. DA Davidson raised their target price on shares of Rivian Automotive from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Wedbush raised their price objective on Rivian Automotive from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Rivian Automotive in a report on Monday. Robert W. Baird upgraded Rivian Automotive from a “neutral” rating to an “outperform” rating and raised their price target for the company from $14.00 to $25.00 in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group boosted their price target on Rivian Automotive from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.74.

Insider Buying and Selling

In related news, Director Peter Krawiec sold 3,655 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $19.45, for a total value of $71,089.75. Following the transaction, the director owned 29,122 shares in the company, valued at approximately $566,422.90. This represents a 11.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 8,039 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $18.00, for a total transaction of $144,702.00. Following the completion of the transaction, the chief financial officer directly owned 730,017 shares in the company, valued at approximately $13,140,306. This represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 120,154 shares of company stock valued at $2,143,724. Company insiders own 2.16% of the company’s stock.

Rivian Automotive Trading Down 1.3%

Shares of Rivian Automotive stock opened at $14.76 on Thursday. Rivian Automotive, Inc. has a 1 year low of $10.36 and a 1 year high of $22.69. The company has a market capitalization of $18.09 billion, a price-to-earnings ratio of -4.75 and a beta of 1.76. The business has a fifty day simple moving average of $17.74 and a two-hundred day simple moving average of $15.29. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.71 and a quick ratio of 2.23.

Rivian Automotive Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.