Livforsakringsbolaget Skandia Omsesidigt Buys 5,900 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 1,180.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,400 shares of the electric vehicle automaker’s stock after purchasing an additional 5,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Rivian Automotive were worth $72,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Private Advisory Group LLC bought a new position in Rivian Automotive in the third quarter valued at approximately $2,109,000. Wedmont Private Capital increased its stake in shares of Rivian Automotive by 144.2% in the 3rd quarter. Wedmont Private Capital now owns 36,148 shares of the electric vehicle automaker’s stock valued at $379,000 after purchasing an additional 21,346 shares during the last quarter. CWM LLC raised its holdings in shares of Rivian Automotive by 15.6% during the 3rd quarter. CWM LLC now owns 46,116 shares of the electric vehicle automaker’s stock worth $517,000 after buying an additional 6,234 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Rivian Automotive during the 3rd quarter worth $128,000. Finally, Green Alpha Advisors LLC boosted its stake in Rivian Automotive by 14.6% in the third quarter. Green Alpha Advisors LLC now owns 53,631 shares of the electric vehicle automaker’s stock valued at $602,000 after buying an additional 6,821 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the sale, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Rivian Automotive 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 value of $43,559.70. Following 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $17.02, for a total transaction of $1,215,721.58. Following the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $15,482,940.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,305 shares of company stock valued at $3,369,273. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RIVN. JPMorgan Chase & Co. boosted their target price on Rivian Automotive from $10.00 to $14.00 and gave the stock an “underweight” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group lowered their price objective on shares of Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $15.00 target price on shares of Rivian Automotive in a research report on Friday, August 16th. Needham & Company LLC decreased their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Rivian Automotive has an average rating of “Hold” and a consensus price target of $17.18.

Rivian Automotive Stock Up 0.9 %

Rivian Automotive stock opened at $10.24 on Thursday. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of -1.77 and a beta of 2.03. Rivian Automotive, Inc. has a 52-week low of $8.26 and a 52-week high of $24.61. 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 firm has a 50 day moving average price of $12.60 and a two-hundred day moving average price of $12.27.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). The firm had revenue of $1.16 billion for 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%. Equities analysts predict that Rivian Automotive, Inc. will post -4.88 EPS for the current year.

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.