Collective Family Office LLC Makes New Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Collective Family Office LLC acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,777 shares of the electric vehicle automaker’s stock, valued at approximately $151,000.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Rivian Automotive by 35.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock valued at $2,277,304,000 after buying an additional 25,550,489 shares during the period. Norges Bank purchased a new position in Rivian Automotive in the fourth quarter valued at $129,427,000. Vanguard Group Inc. grew its stake in Rivian Automotive by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after purchasing an additional 4,467,881 shares in the last quarter. Wellington Management Group LLP increased its holdings in Rivian Automotive by 228.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,630,315 shares of the electric vehicle automaker’s stock worth $88,144,000 after purchasing an additional 2,525,142 shares during the period. Finally, Morgan Stanley increased its holdings in Rivian Automotive by 14.0% during the 3rd quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock worth $235,409,000 after purchasing an additional 1,193,650 shares during the period. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Trading Down 6.3 %

NASDAQ RIVN opened at $10.33 on Friday. The firm’s fifty day moving average is $10.21 and its two-hundred day moving average is $13.76. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.55 and a current ratio of 4.71. The firm has a market cap of $10.28 billion, a PE ratio of -1.79 and a beta of 2.01.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.38) by ($0.03). Rivian Automotive had a negative net margin of 111.09% and a negative return on equity of 53.55%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Analysts expect that Rivian Automotive, Inc. will post -4.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RIVN. UBS Group raised Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Tuesday, April 16th. Barclays dropped their price objective on shares of Rivian Automotive from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. DA Davidson decreased their price objective on shares of Rivian Automotive from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Bank of America lowered their target price on shares of Rivian Automotive from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price target on shares of Rivian Automotive in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.49, for a total value of $820,719.21. Following the transaction, the chief executive officer now directly owns 909,691 shares in the company, valued at approximately $10,452,349.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

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.