Vontobel Holding Ltd. Purchases 120,544 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Vontobel Holding Ltd. grew its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 543.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,712 shares of the electric vehicle automaker’s stock after acquiring an additional 120,544 shares during the quarter. Vontobel Holding Ltd.’s holdings in Rivian Automotive were worth $1,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its position in Rivian Automotive by 61.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 33,717 shares of the electric vehicle automaker’s stock valued at $791,000 after purchasing an additional 12,832 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Rivian Automotive by 20.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 36,575 shares of the electric vehicle automaker’s stock worth $858,000 after acquiring an additional 6,295 shares during the last quarter. True North Advisors LLC lifted its position in Rivian Automotive by 41.8% in the 1st quarter. True North Advisors LLC now owns 26,344 shares of the electric vehicle automaker’s stock valued at $288,000 after acquiring an additional 7,766 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Rivian Automotive during the 1st quarter valued at about $574,000. Finally, Strategic Planning Group LLC bought a new stake in Rivian Automotive during the 1st quarter worth approximately $867,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Trading Down 0.8 %

Shares of RIVN stock opened at $10.04 on Friday. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of -1.74 and a beta of 2.03. The company’s fifty day simple moving average is $12.36 and its two-hundred day simple moving average is $12.25. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.61. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.17 billion. As a group, analysts anticipate that Rivian Automotive, Inc. will post -4.88 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the completion of the sale, the chief executive officer now owns 886,526 shares in the company, valued at approximately $12,127,675.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,305 shares of company stock valued at $3,369,273. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wolfe Research assumed coverage on Rivian Automotive in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Rivian Automotive in a report on Wednesday, August 7th. 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 research note on Monday, October 7th. Mizuho raised their price target on shares of Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, Needham & Company LLC reduced their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.18.

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.