Rivian Automotive, Inc. $RIVN Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 61.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,427 shares of the electric vehicle automaker’s stock after selling 94,675 shares during the period. Intech Investment Management LLC’s holdings in Rivian Automotive were worth $1,152,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Merit Financial Group LLC grew its stake in shares of Rivian Automotive by 3.2% during the 4th quarter. Merit Financial Group LLC now owns 23,127 shares of the electric vehicle automaker’s stock valued at $456,000 after buying an additional 718 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Rivian Automotive by 36.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,764 shares of the electric vehicle automaker’s stock valued at $54,000 after buying an additional 739 shares during the period. Prospera Financial Services Inc grew its stake in shares of Rivian Automotive by 5.2% during the 3rd quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker’s stock valued at $232,000 after buying an additional 775 shares during the period. Siemens Fonds Invest GmbH grew its stake in shares of Rivian Automotive by 7.7% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 10,874 shares of the electric vehicle automaker’s stock valued at $160,000 after buying an additional 780 shares during the period. Finally, Equitable Holdings Inc. grew its stake in shares of Rivian Automotive by 5.8% during the 3rd quarter. Equitable Holdings Inc. now owns 14,699 shares of the electric vehicle automaker’s stock valued at $216,000 after buying an additional 803 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Claire Mcdonough sold 8,023 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the sale, the chief financial officer directly owned 887,007 shares of the company’s stock, valued at approximately $14,192,112. This represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $522,270.00. Following the sale, the chief executive officer directly owned 922,286 shares of the company’s stock, valued at approximately $13,834,290. This trade represents a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 117,790 shares of company stock valued at $1,832,466. 1.48% of the stock is owned by corporate insiders.

Rivian Automotive Stock Down 9.8%

Shares of Rivian Automotive stock opened at $16.35 on Friday. The company has a fifty day moving average price of $15.45 and a 200 day moving average price of $16.33. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00. Rivian Automotive, Inc. has a twelve month low of $11.57 and a twelve month high of $22.69. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of -5.60 and a beta of 1.62.

Wall Street Analysts Forecast Growth

RIVN has been the subject of several research reports. Bank of America initiated coverage on shares of Rivian Automotive in a research note on Wednesday, March 4th. They set an “underperform” rating and a $14.00 price objective for the company. Stifel Nicolaus boosted their price objective on shares of Rivian Automotive from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft raised shares of Rivian Automotive from a “hold” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $23.00 in a research note on Friday, February 13th. Wells Fargo & Company boosted their price objective on shares of Rivian Automotive from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Rivian Automotive in a research note on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.57.

More Rivian Automotive News

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian shares have been rising as investors bet on strong reception for the upcoming R2 SUV launch, with some commentary calling it a potentially transformative step for the company. Here’s Why Rivian Stock Jumped This Week
• Positive Sentiment: Volkswagen’s $1 billion investment and minority stake in Rivian add validation to the company’s strategy and may improve investor confidence ahead of the R2 rollout. Volkswagen’s Rivian Stake Puts Focus On R2 Launch And Valuation Gap
• Positive Sentiment: TD Cowen reiterated a buy rating on Rivian, and unusual options activity showed heavy call buying, signaling that traders are still leaning bullish on the stock. Rivian Automotive (NASDAQ:RIVN) Given “Buy” Rating at TD Cowen
• Positive Sentiment: AT&T-related coverage highlighted Rivian as part of a connected-car growth story, with 5G support for the R2 potentially strengthening the vehicle’s appeal. Can AT&T’s Extended Tie-Ups for Connected Car Accelerate Growth?
• Neutral Sentiment: Some articles are framing Rivian as a high-risk, high-reward stock, noting that investors are waiting to see whether the R2 launch can justify the recent run-up in shares. If You Buy Rivian Right Now, Could It Make You a Millionaire?
• Negative Sentiment: The biggest risk for Rivian is that the stock’s recent strength is tied to expectations, so any disappointment around the R2 launch or demand outlook could pressure shares. Rivian: Wait For The R2 Launch

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.