SEB Asset Management AB Acquires Shares of 170,158 Rivian Automotive, Inc. $RIVN

SEB Asset Management AB bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 170,158 shares of the electric vehicle automaker’s stock, valued at approximately $2,561,000.

Other large investors have also modified their holdings of the company. Illinois Municipal Retirement Fund lifted its position in Rivian Automotive by 1.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 43,282 shares of the electric vehicle automaker’s stock worth $853,000 after acquiring an additional 686 shares in the last quarter. Merit Financial Group LLC grew its position in Rivian Automotive by 3.2% in the fourth quarter. Merit Financial Group LLC now owns 23,127 shares of the electric vehicle automaker’s stock valued at $456,000 after acquiring an additional 718 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Rivian Automotive by 36.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,764 shares of the electric vehicle automaker’s stock valued at $54,000 after purchasing an additional 739 shares during the period. Utah Retirement Systems raised its stake in shares of Rivian Automotive by 0.6% during the fourth quarter. Utah Retirement Systems now owns 128,500 shares of the electric vehicle automaker’s stock valued at $2,533,000 after purchasing an additional 744 shares during the period. Finally, Tradition Wealth Management LLC raised its stake in shares of Rivian Automotive by 5.7% during the fourth quarter. Tradition Wealth Management LLC now owns 14,056 shares of the electric vehicle automaker’s stock valued at $277,000 after purchasing an additional 753 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RIVN shares. Benchmark restated a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a research note on Friday, May 1st. DA Davidson lifted their price target on shares of Rivian Automotive from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Rivian Automotive in a report on Monday, June 15th. Canaccord Genuity Group restated a “buy” rating and set a $22.00 target price on shares of Rivian Automotive in a research note on Monday, April 6th. Finally, BNP Paribas Exane raised their target price on Rivian Automotive from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.86.

Rivian Automotive Stock Performance

Rivian Automotive stock opened at $16.46 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. Rivian Automotive, Inc. has a 12 month low of $11.57 and a 12 month high of $22.69. The company has a fifty day moving average price of $16.28 and a two-hundred day moving average price of $16.01. The company has a market cap of $22.40 billion, a PE ratio of -5.64 and a beta of 1.60.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company earned ($0.48) earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Rivian Automotive, Inc. will post -3.06 earnings per share for the current year.

Rivian Automotive News Summary

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

• Positive Sentiment: Rivian remains in focus ahead of its July 30 earnings release, with recent coverage highlighting expectations for higher revenue and earnings versus the prior period. The stock has also shown some recent recovery over the past month, suggesting traders still see a turnaround case. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Longer-term bullish commentary is pointing to Rivian’s improving gross profitability trend and arguing the company has several factors that could support a durable investment case. 3 Big Reasons to Believe in Rivian Stock Long-Term
• Neutral Sentiment: Despite the recent attention, one analysis says Rivian does not currently have the key setup that typically leads to an earnings beat, which keeps expectations guarded heading into the report. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: Rivian is being pulled lower along with other EV stocks after Tesla reported a profit miss, which has raised fresh questions about demand, margins, and profitability across the sector. Tesla Slides 8% on Earnings Miss Despite Record Deliveries; Rivian, Lucid Slip
• Negative Sentiment: Broader commentary on the U.S. EV industry has been pessimistic, emphasizing shrinking market enthusiasm and the financial strain on young EV makers like Rivian, which can weigh on sentiment ahead of earnings. This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way

Insider Activity at Rivian Automotive

In other Rivian Automotive news, Director Karen Boone sold 20,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the sale, the director directly owned 110,000 shares in the company, valued at approximately $2,200,000. The trade was a 15.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the sale, the chief executive officer directly owned 922,286 shares in the company, valued at approximately $13,834,290. The trade was a 3.64% decrease in their position. 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. Insiders have sold a total of 68,385 shares of company stock worth $1,125,094 in the last ninety days. 1.48% of the stock is owned by insiders.

Rivian Automotive Company 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.