Achmea Investment Management B.V. Sells 24,397 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Achmea Investment Management B.V. lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 51.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,690 shares of the electric vehicle automaker’s stock after selling 24,397 shares during the period. Achmea Investment Management B.V.’s holdings in Rivian Automotive were worth $304,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quent Capital LLC raised its position in Rivian Automotive by 74.3% in the second 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 during the period. EverSource Wealth Advisors LLC raised its holdings in Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after purchasing an additional 2,380 shares during the period. Principal Securities Inc. purchased a new position in Rivian Automotive during the fourth quarter valued at $33,000. Benjamin Edwards Inc. bought a new stake in Rivian Automotive during the first quarter valued at about $33,000. Finally, Fairman Group LLC bought a new position in shares of Rivian Automotive in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $13.50 on Friday. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of -2.34 and a beta of 2.06. The firm has a 50-day moving average of $14.85 and a two-hundred day moving average of $12.27. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.87. 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 announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. On average, research analysts forecast that Rivian Automotive, Inc. will post -4.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RIVN shares. Morgan Stanley increased their target price on shares of Rivian Automotive from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $14.00 price objective on shares of Rivian Automotive in a research note on Tuesday, September 10th. Truist Financial upped their target price on shares of Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group raised their price target on Rivian Automotive from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 1st. Finally, Needham & Company LLC lowered 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.09.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at $10,234,023.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now owns 909,691 shares in the company, valued at approximately $10,234,023.75. The transaction 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 the stock in a transaction that occurred 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 $16,374,438. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,497 shares of company stock worth $6,732,150. Company 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.