Cetera Investment Advisers Buys 18,243 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Cetera Investment Advisers grew its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,381 shares of the electric vehicle automaker’s stock after purchasing an additional 18,243 shares during the period. Cetera Investment Advisers’ holdings in Rivian Automotive were worth $2,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its holdings in Rivian Automotive by 149.5% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 52,117 shares of the electric vehicle automaker’s stock worth $699,000 after buying an additional 31,232 shares in the last quarter. Regal Investment Advisors LLC raised its position in shares of Rivian Automotive by 7.0% during the 2nd quarter. Regal Investment Advisors LLC now owns 19,493 shares of the electric vehicle automaker’s stock valued at $262,000 after acquiring an additional 1,281 shares during the last quarter. Quarry LP bought a new stake in shares of Rivian Automotive in the 2nd quarter valued at $105,000. Susquehanna Fundamental Investments LLC acquired a new stake in Rivian Automotive during the 2nd quarter worth $9,388,000. Finally, The Manufacturers Life Insurance Company raised its stake in Rivian Automotive by 90.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 72,313 shares of the electric vehicle automaker’s stock worth $970,000 after buying an additional 34,303 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Trading Up 2.3 %

Rivian Automotive stock opened at $10.50 on Friday. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $24.61. The stock has a market capitalization of $10.45 billion, a P/E ratio of -1.82 and a beta of 2.03. The stock has a 50-day simple moving average of $12.77 and a 200 day simple moving average of $12.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25.

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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Analysts expect that Rivian Automotive, Inc. will post -4.88 earnings per share for the current year.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 392,662 shares in the company, valued at $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 SEC, which is available at this hyperlink. In other news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $12,127,675.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 Rivian Automotive 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 241,305 shares of company stock worth $3,369,273 over the last quarter. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

RIVN has been the topic of several research analyst reports. Barclays raised their price objective on Rivian Automotive from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 16th. Piper Sandler reaffirmed 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 reaffirmed a “sector perform” rating and set a $15.00 price objective on shares of Rivian Automotive in a research note on Friday, August 16th. UBS Group dropped their price target on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $19.00 price target on shares of Rivian Automotive in a research note on Monday, September 30th. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.68.

Rivian Automotive Company 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.