Quantinno Capital Management LP Makes New Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Quantinno Capital Management LP acquired a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 16,311 shares of the electric vehicle automaker’s stock, valued at approximately $183,000.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in shares of Rivian Automotive by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock valued at $492,000 after purchasing an additional 604 shares during the last quarter. Blue Trust Inc. raised its position in Rivian Automotive by 39.0% in the 2nd quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker’s stock worth $43,000 after purchasing an additional 907 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Rivian Automotive by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,585,592 shares of the electric vehicle automaker’s stock worth $21,279,000 after purchasing an additional 33,276 shares during the last quarter. Raymond James & Associates boosted its position in Rivian Automotive by 11.1% during the second quarter. Raymond James & Associates now owns 152,748 shares of the electric vehicle automaker’s stock valued at $2,050,000 after buying an additional 15,252 shares during the period. Finally, Western Wealth Management LLC grew its stake in shares of Rivian Automotive by 52.1% during the second quarter. Western Wealth Management LLC now owns 16,348 shares of the electric vehicle automaker’s stock valued at $219,000 after buying an additional 5,603 shares during the last quarter. 66.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 71,429 shares of Rivian Automotive stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $13.65, for a total transaction of $975,005.85. Following the transaction, the chief executive officer now owns 863,361 shares in the company, valued at approximately $11,784,877.65. The trade was a 7.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the sale, the chief financial officer now owns 378,498 shares of the company’s stock, valued at $3,796,334.94. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,403 shares of company stock worth $3,013,489 over the last quarter. 2.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC dropped their target price on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, October 22nd. Barclays lowered their price target on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. Wedbush reissued an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Rivian Automotive presently has a consensus rating of “Hold” and a consensus price target of $15.83.

Check Out Our Latest Stock Report on Rivian Automotive

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $15.34 on Tuesday. The stock has a market cap of $15.66 billion, a P/E ratio of -2.74 and a beta of 2.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The stock’s fifty day moving average is $11.18 and its 200 day moving average is $12.71. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.61.

Rivian Automotive Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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