Signaturefd LLC Purchases 2,413 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Signaturefd LLC lifted its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,721 shares of the electric vehicle automaker’s stock after buying an additional 2,413 shares during the period. Signaturefd LLC’s holdings in Rivian Automotive were worth $277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RIVN. Baillie Gifford & Co. raised its holdings in shares of Rivian Automotive by 714.3% in the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock valued at $277,046,000 after acquiring an additional 22,194,018 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rivian Automotive by 1,521.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock valued at $69,291,000 after acquiring an additional 5,937,605 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Rivian Automotive by 153.2% in the second quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock worth $72,877,000 after purchasing an additional 3,285,867 shares in the last quarter. Spirepoint Private Client LLC bought a new position in Rivian Automotive in the first quarter worth about $15,635,000. Finally, AQR Capital Management LLC raised its holdings in Rivian Automotive by 102.8% in the second quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker’s stock worth $33,276,000 after purchasing an additional 1,257,106 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $10.45 on Friday. The business’s 50 day moving average price is $12.04 and its 200 day moving average price is $12.25. The firm has a market cap of $10.54 billion, a P/E ratio of -1.75 and a beta of 2.03. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $24.61. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. On average, sell-side analysts expect that Rivian Automotive, Inc. will post -4.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on RIVN shares. Canaccord Genuity Group reduced their target price on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 target price on shares of Rivian Automotive in a report on Tuesday, September 10th. Morgan Stanley downgraded shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $16.00 to $13.00 in a report on Wednesday, September 25th. Mizuho boosted their target price on shares of Rivian Automotive from $11.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Needham & Company LLC reduced their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Rivian Automotive has an average rating of “Hold” and a consensus target price of $17.09.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.68, for a total value of $1,139,995.44. Following the sale, the chief executive officer now owns 886,526 shares in the company, valued at approximately $12,127,675.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the sale, the chief financial officer now owns 392,662 shares in the company, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.68, for a total value of $1,139,995.44. Following the transaction, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at approximately $12,127,675.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,876 shares of company stock worth $2,153,551. Corporate insiders own 2.51% of the company’s stock.

Rivian Automotive Company Profile

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.