Quest Partners LLC Buys 7,273 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Quest Partners LLC lifted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 109.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,945 shares of the electric vehicle automaker’s stock after purchasing an additional 7,273 shares during the period. Quest Partners LLC’s holdings in Rivian Automotive were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC grew its holdings in Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 2,380 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Rivian Automotive by 63.2% during the third quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after buying an additional 1,002 shares during the last quarter. American Capital Advisory LLC raised its stake in shares of Rivian Automotive by 267.6% during the 3rd quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock worth $33,000 after acquiring an additional 2,111 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Rivian Automotive in the second quarter worth $37,000. 66.25% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. The trade was a 8.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 253,210 shares of company stock worth $3,079,695 over the last ninety days. Corporate insiders own 2.51% of the company’s stock.

Rivian Automotive Trading Up 5.8 %

Shares of RIVN stock opened at $12.22 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock’s fifty day moving average is $10.67 and its two-hundred day moving average is $12.45. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.61. The firm has a market capitalization of $12.47 billion, a P/E ratio of -2.18 and a beta of 2.04.

Wall Street Analysts Forecast Growth

RIVN has been the subject of a number of research analyst reports. Bank of America cut Rivian Automotive from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $13.00 in a research note on Friday, November 8th. The Goldman Sachs Group upped their target price on Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. decreased their target price on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. Robert W. Baird cut their price objective on shares of Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Finally, Guggenheim lowered their target price on Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Hold” and a consensus target price of $15.73.

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.