Coldstream Capital Management Inc. Acquires Shares of 48,461 Rivian Automotive, Inc. (NASDAQ:RIVN)

Coldstream Capital Management Inc. bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 48,461 shares of the electric vehicle automaker’s stock, valued at approximately $650,000.

A number of other institutional investors have also recently made changes to their positions in RIVN. Quent Capital LLC raised its stake in Rivian Automotive by 74.3% in the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 831 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Rivian Automotive by 975.4% in the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after purchasing an additional 2,380 shares during the period. Principal Securities Inc. purchased a new stake in shares of Rivian Automotive during the 4th quarter valued at approximately $33,000. Benjamin Edwards Inc. bought a new position in Rivian Automotive in the 1st quarter worth approximately $33,000. Finally, Fairman Group LLC purchased a new position in Rivian Automotive in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on RIVN shares. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, August 7th. Mizuho lifted their target price on Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Canaccord Genuity Group increased their price target on shares of Rivian Automotive from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Wells Fargo & Company reduced their price objective on shares of Rivian Automotive from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Finally, Guggenheim assumed coverage on shares of Rivian Automotive in a research note on Tuesday, June 25th. They issued a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.09.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the 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 of the company’s stock, valued at $5,328,423.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total transaction of $803,576.25. Following the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $10,234,023.75. The disclosure for this sale can be found here. Over the last quarter, 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 Stock Down 1.5 %

Shares of NASDAQ RIVN opened at $13.72 on Friday. The stock has a market capitalization of $13.83 billion, a P/E ratio of -2.38 and a beta of 2.07. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.87. The firm’s 50 day simple moving average is $14.89 and its two-hundred day simple moving average is $12.24. 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 released its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. As a group, analysts expect that Rivian Automotive, Inc. will post -4.82 EPS for the current fiscal year.

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.