KBC Group NV Lowers Holdings in Rivian Automotive, Inc. $RIVN

KBC Group NV reduced its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,131 shares of the electric vehicle automaker’s stock after selling 42,029 shares during the quarter. KBC Group NV’s holdings in Rivian Automotive were worth $2,892,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its stake in shares of 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 purchasing an additional 686 shares during the period. Merit Financial Group LLC increased its holdings 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 purchasing an additional 718 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Rivian Automotive by 36.5% in the 4th 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 lifted its stake in shares of Rivian Automotive by 0.6% in the 4th 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 boosted its holdings in 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 worth $277,000 after buying an additional 753 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Rivian Automotive

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

• Positive Sentiment: Rivian filed a lawsuit seeking a full refund of tariffs it paid under Trump-era import taxes, which could return tens of millions of dollars to the company if successful and provide a direct boost to cash flow. Rivian sues the US government for ‘full refund’ of Trump tariffs
• Positive Sentiment: Investor attention is also focusing on Rivian’s improving relative performance versus peers, with the stock benefiting from a broader rotation away from Tesla and toward EV names like Rivian. Tesla Sinks 18% in a Month as Lucid Climbs 21%, Rivian Gains 9%: SpaceX Anxiety or Cracks Under the Hood?
• Neutral Sentiment: Rivian remains in focus ahead of its June-quarter earnings report on July 30, with analysts debating whether the company can deliver a better-than-expected result after a volatile year-to-date performance. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Rivian is also being viewed as having a relatively weak setup for an earnings beat, which adds uncertainty but does not by itself confirm a major near-term catalyst. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: News that Volkswagen engineers were charged with insider trading tied to the Rivian joint venture may create some headline risk around the partnership, even though the allegations are aimed at individuals rather than Rivian itself. Volkswagen engineers charged with insider trading tied to Rivian joint venture

Insider Activity

In other news, CEO Robert J. Scaringe sold 34,818 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the completion of the sale, the chief executive officer owned 922,286 shares of the company’s stock, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the transaction, the director owned 110,000 shares of the company’s stock, valued at approximately $2,200,000. This trade represents a 15.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 over the last 90 days. 1.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BNP Paribas Exane raised their price target on shares of Rivian Automotive from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Rivian Automotive in a research report on Monday, April 6th. Benchmark reissued a “buy” rating and set a $25.00 target price on shares of Rivian Automotive in a research note on Friday, May 1st. Jefferies Financial Group raised their target price on Rivian Automotive from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, July 7th. Finally, Tigress Financial restated a “buy” rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, April 10th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.86.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $15.84 on Friday. The company’s fifty day moving average price is $16.32 and its 200 day moving average price is $16.00. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69. The stock has a market capitalization of $21.56 billion, a P/E ratio of -5.42 and a beta of 1.60. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10.

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

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.