Legal & General Group Plc Has $89.41 Million Stock Holdings in Rivian Automotive, Inc. $RIVN

Legal & General Group Plc raised its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,536,169 shares of the electric vehicle automaker’s stock after buying an additional 224,435 shares during the quarter. Legal & General Group Plc’s holdings in Rivian Automotive were worth $89,408,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RIVN. Vanguard Group Inc. increased its stake in Rivian Automotive by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock valued at $1,198,967,000 after buying an additional 2,597,310 shares during the period. Capital International Investors increased its stake in Rivian Automotive by 13.4% in the 3rd quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker’s stock valued at $269,395,000 after buying an additional 2,161,394 shares during the period. AQR Capital Management LLC increased its stake in Rivian Automotive by 496.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker’s stock valued at $31,490,000 after buying an additional 1,918,852 shares during the period. Worldquant Millennium Advisors LLC increased its stake in Rivian Automotive by 1,353.6% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker’s stock valued at $28,281,000 after buying an additional 1,916,686 shares during the period. Finally, Ossiam acquired a new position in Rivian Automotive in the 3rd quarter valued at approximately $17,498,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $16.30 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $15.28 and a 200 day simple moving average of $16.30. The company has a market cap of $20.23 billion, a P/E ratio of -5.58 and a beta of 1.64. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69.

Key Headlines Impacting Rivian Automotive

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

• Positive Sentiment: Investors are focusing on Rivian’s growth story, including the upcoming R2 launch and expectations that software-related revenue could become a bigger driver as the company expands beyond its current lineup. Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
• Positive Sentiment: Rivian’s stock is also benefiting from improved sentiment across EV names and trader interest, which has helped push shares higher despite technical warning signs. Rivian Stock Climbs Friday: What’s Driving The Move?
• Neutral Sentiment: Rivian remains a trending stock, suggesting elevated investor attention and the potential for continued volatility as traders reassess the company’s outlook. Rivian Automotive, Inc. (RIVN) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag is a new NHTSA investigation into 114,922 R1S and R1T vehicles over a possible rear toe link defect, raising recall, repair, and reputational risk. US auto safety regulator opens probe into nearly 115,000 Rivian vehicles
• Negative Sentiment: Follow-up reports say the probe stems from rear suspension failures that may have caused vehicles to swerve, which could increase scrutiny and pressure on the stock if the issue widens. Rivian under investigation over rear suspension failures on R1 models

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DA Davidson upped their price objective on shares of Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research note on Friday, February 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 3rd. TD Cowen upgraded shares of Rivian Automotive from a “hold” rating to a “buy” rating and upped their price objective for the company from $17.00 to $20.00 in a research note on Tuesday, March 10th. Finally, UBS Group upgraded shares of Rivian Automotive from a “sell” rating to a “neutral” rating and increased their price target for the stock from $15.00 to $16.00 in a research note on Friday, February 13th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.57.

Insider Buying and Selling at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 34,818 shares of the company’s stock in a transaction on 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 directly owned 922,286 shares of the company’s stock, valued at approximately $13,834,290. This represents a 3.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 5,544 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $13.43, for a total transaction of $74,455.92. Following the sale, the chief financial officer directly owned 902,630 shares of the company’s stock, valued at approximately $12,122,320.90. This represents a 0.61% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 127,217 shares of company stock valued at $1,965,848. 2.16% 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.