Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 51.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,331 shares of the electric vehicle automaker’s stock after purchasing an additional 1,479 shares during the period. First Horizon Advisors Inc.’s holdings in Rivian Automotive were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RIVN. International Assets Investment Management LLC boosted its position in shares of Rivian Automotive by 1,870.7% during the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after buying an additional 51,464 shares during the period. Mizuho Markets Americas LLC boosted its position in Rivian Automotive by 30.7% during the 3rd quarter. Mizuho Markets Americas LLC now owns 531,568 shares of the electric vehicle automaker’s stock worth $5,964,000 after acquiring an additional 124,950 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Rivian Automotive by 543.8% in the third quarter. Vontobel Holding Ltd. now owns 142,712 shares of the electric vehicle automaker’s stock worth $1,601,000 after purchasing an additional 120,544 shares in the last quarter. Renaissance Capital LLC increased its holdings in shares of Rivian Automotive by 20.0% during the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock valued at $9,958,000 after purchasing an additional 148,197 shares during the period. Finally, Private Advisory Group LLC bought a new stake in shares of Rivian Automotive during the third quarter valued at about $2,109,000. Institutional investors own 66.25% of the company’s stock.

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the transaction, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at approximately $10,319,162.64. The trade was a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the completion of the transaction, the chief financial officer now owns 378,498 shares in the company, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,876 shares of company stock valued at $2,142,188. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Up 2.2 %

Shares of NASDAQ:RIVN opened at $10.24 on Monday. The firm has a 50 day simple moving average of $10.75 and a 200 day simple moving average of $12.43. The company has a market cap of $10.45 billion, a PE ratio of -1.83 and a beta of 2.04. 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 0.93, a quick ratio of 3.70 and a current ratio of 5.09.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Rivian Automotive from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada dropped their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. UBS Group cut their target price on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Canaccord Genuity Group lowered their price target on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $14.00 price objective on shares of Rivian Automotive in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.73.

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.