Oppenheimer & Co. Inc. Has $286,000 Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Oppenheimer & Co. Inc. boosted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 59.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,451 shares of the electric vehicle automaker’s stock after buying an additional 9,441 shares during the period. Oppenheimer & Co. Inc.’s holdings in Rivian Automotive were worth $286,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Rivian Automotive by 1,870.7% during the 3rd quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after purchasing an additional 51,464 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Rivian Automotive by 543.8% in the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock valued at $1,601,000 after acquiring an additional 120,544 shares during the last quarter. Renaissance Capital LLC grew its position in shares of Rivian Automotive by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock valued at $9,958,000 after acquiring an additional 148,197 shares during the period. Private Advisory Group LLC acquired a new position in shares of Rivian Automotive during the 3rd quarter worth about $2,109,000. Finally, Royal London Asset Management Ltd. raised its holdings in shares of Rivian Automotive by 19.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 300,076 shares of the electric vehicle automaker’s stock valued at $4,027,000 after purchasing an additional 49,216 shares during the period. 66.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 22nd. Morgan Stanley downgraded Rivian Automotive from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $16.00 to $13.00 in a report on Wednesday, September 25th. Wells Fargo & Company decreased their price objective on shares of Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $19.00 price objective on shares of Rivian Automotive in a research report on Monday, September 30th. Finally, Truist Financial reduced their target price on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.73.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $10.24 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a 50-day moving average of $10.82 and a 200-day moving average of $12.40. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.61. The company has a market cap of $10.45 billion, a P/E ratio of -1.85 and a beta of 2.04.

Insider Activity

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares of the company’s stock, valued at $3,796,334.94. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the completion of 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 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,876 shares of company stock valued at $2,142,188 in the last ninety days. 2.51% of the stock is currently owned by insiders.

About Rivian Automotive

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.