Headlands Technologies LLC Takes Position in Rivian Automotive, Inc. $RIVN

Headlands Technologies LLC purchased a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,491 shares of the electric vehicle automaker’s stock, valued at approximately $1,050,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RIVN. Norges Bank bought a new position in Rivian Automotive during the 4th quarter valued at $220,323,000. Renaissance Technologies LLC lifted its position in shares of Rivian Automotive by 32.4% during the fourth quarter. Renaissance Technologies LLC now owns 16,397,496 shares of the electric vehicle automaker’s stock worth $323,195,000 after purchasing an additional 4,012,386 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Rivian Automotive in the second quarter worth about $49,915,000. Capital International Investors increased its holdings in Rivian Automotive by 13.2% in the fourth quarter. Capital International Investors now owns 20,769,844 shares of the electric vehicle automaker’s stock valued at $409,374,000 after buying an additional 2,418,717 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Rivian Automotive by 496.6% during the second 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 in the last quarter. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Rivian Automotive from a “buy” rating to an “underperform” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. UBS Group increased their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Piper Sandler raised shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Monday, July 27th. Finally, Morgan Stanley increased their price objective on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Friday, July 31st. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.05.

Rivian Automotive Stock Performance

Shares of RIVN opened at $15.53 on Wednesday. The firm has a fifty day moving average of $16.52 and a 200-day moving average of $15.91. The company has a market cap of $22.49 billion, a price-to-earnings ratio of -6.02 and a beta of 1.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.10. Rivian Automotive, Inc. has a 1 year low of $12.39 and a 1 year high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.03. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.97) EPS. As a group, equities analysts anticipate that Rivian Automotive, Inc. will post -2.98 earnings per share for the current year.

Insider Activity at Rivian Automotive

In related news, Director Karen Boone sold 20,000 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the transaction, the director directly owned 110,000 shares of the company’s stock, valued at $2,200,000. This represents a 15.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $16.00, for a total value of $128,368.00. Following the completion of the sale, the chief financial officer owned 819,178 shares in the company, valued at approximately $13,106,848. This represents a 0.97% 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. Insiders sold 41,167 shares of company stock worth $718,956 in the last 90 days. 1.48% of the stock is owned by company insiders.

About Rivian Automotive

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.