Acadian Asset Management LLC Makes New $258,000 Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Acadian Asset Management LLC bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,275 shares of the electric vehicle automaker’s stock, valued at approximately $258,000.

Several other hedge funds have also modified their holdings of the stock. Principal Securities Inc. acquired a new stake in shares of Rivian Automotive during the fourth quarter worth approximately $33,000. Fairman Group LLC bought a new stake in shares of Rivian Automotive in the 4th quarter worth about $36,000. Quent Capital LLC raised its stake in shares of Rivian Automotive by 74.3% in the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after purchasing an additional 831 shares in the last quarter. Creekmur Asset Management LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth about $51,000. Finally, FinTrust Capital Advisors LLC grew its stake in Rivian Automotive by 552.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 2,610 shares of the electric vehicle automaker’s stock worth $61,000 after purchasing an additional 2,210 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RIVN. Piper Sandler restated an “overweight” rating and set a $21.00 price objective on shares of Rivian Automotive in a research note on Wednesday, June 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 price target on shares of Rivian Automotive in a research report on Friday, August 16th. Needham & Company LLC decreased their price objective 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. Mizuho increased 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, The Goldman Sachs Group lifted their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, July 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.09.

Rivian Automotive Trading Up 1.9 %

NASDAQ:RIVN opened at $13.15 on Friday. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.87. The business has a fifty day moving average of $14.61 and a 200-day moving average of $12.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of -2.28 and a beta of 2.06.

Rivian Automotive (NASDAQ:RIVN) last released its earnings results 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). The company 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%. Equities analysts predict that Rivian Automotive, Inc. will post -4.92 earnings per share for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Friday, August 16th. The stock was 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 directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the sale, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 886,526 shares of the company’s stock, valued at approximately $12,127,675.68. The disclosure for this sale can be found here. Insiders have sold 500,830 shares of company stock worth $7,872,145 over the last quarter. 2.30% of the stock is currently owned by company 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.