American Century Companies Inc. Grows Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

American Century Companies Inc. boosted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 154,336 shares of the electric vehicle automaker’s stock after buying an additional 6,105 shares during the period. American Century Companies Inc.’s holdings in Rivian Automotive were worth $2,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Rivian Automotive by 35.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock worth $2,277,304,000 after buying an additional 25,550,489 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Rivian Automotive by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 69,539,602 shares of the electric vehicle automaker’s stock worth $761,459,000 after buying an additional 1,226,357 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Rivian Automotive by 30.5% during the 2nd quarter. Baillie Gifford & Co. now owns 33,015,793 shares of the electric vehicle automaker’s stock worth $443,072,000 after buying an additional 7,714,788 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Rivian Automotive by 1,521.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after buying an additional 5,937,605 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Rivian Automotive by 53.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,972,339 shares of the electric vehicle automaker’s stock worth $39,889,000 after buying an additional 1,039,758 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $11.60 on Friday. The stock has a market capitalization of $11.70 billion, a P/E ratio of -2.01 and a beta of 2.06. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.87. The business’s fifty day moving average is $13.91 and its two-hundred day moving average is $12.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. On average, research analysts forecast that Rivian Automotive, Inc. will post -4.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of recent research reports. Needham & Company LLC dropped their price objective on Rivian Automotive from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 price objective on shares of Rivian Automotive in a research report on Tuesday, September 10th. UBS Group dropped their price objective on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Truist Financial raised their price objective on Rivian Automotive from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Guggenheim initiated coverage on Rivian Automotive in a research report on Tuesday, June 25th. They set a “buy” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.91.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 200,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $18.00, for a total transaction of $3,600,000.00. Following the transaction, the chief executive officer now owns 909,691 shares in the company, valued at approximately $16,374,438. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction dated 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 directly owns 886,526 shares of the company’s stock, valued at $12,127,675.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert J. Scaringe sold 200,000 shares of Rivian Automotive stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the sale, the chief executive officer now directly owns 909,691 shares in the company, valued at $16,374,438. The disclosure for this sale can be found here. Insiders sold 512,734 shares of company stock valued at $8,038,565 in the last three months. Corporate insiders own 2.30% of the company’s stock.

Rivian Automotive 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.