Atomi Financial Group Inc. Makes New $128,000 Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Atomi Financial Group Inc. bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,368 shares of the electric vehicle automaker’s stock, valued at approximately $128,000.

A number of other institutional investors have also made changes to their positions in the business. Baillie Gifford & Co. increased its position in Rivian Automotive by 714.3% in the 1st quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock valued at $277,046,000 after acquiring an additional 22,194,018 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Rivian Automotive by 1,521.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock worth $69,291,000 after purchasing an additional 5,937,605 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Rivian Automotive by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after buying an additional 4,467,881 shares in the last quarter. Renaissance Technologies LLC boosted its position in Rivian Automotive by 153.2% in the 2nd quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock valued at $72,877,000 after buying an additional 3,285,867 shares during the last quarter. Finally, Spirepoint Private Client LLC acquired a new stake in shares of Rivian Automotive in the 1st quarter valued at $15,635,000. 66.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total value of $969,996.12. Following the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at $10,319,162.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the firm’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 value of $969,996.12. Following the completion of the transaction, the chief executive officer now owns 886,526 shares of the company’s stock, valued at approximately $10,319,162.64. This represents 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 valued at $3,369,273 in the last quarter. 2.51% of the stock is currently owned by insiders.

Rivian Automotive Trading Down 1.4 %

RIVN opened at $10.35 on Tuesday. The stock has a market capitalization of $10.44 billion, a P/E ratio of -1.74 and a beta of 2.03. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61. The firm’s fifty day simple moving average is $12.69 and its 200 day simple moving average is $12.28.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $1.17 billion. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -4.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RIVN has been the topic of several research reports. Canaccord Genuity Group cut their price target on Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 7th. Barclays raised their target price on shares of Rivian Automotive from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 16th. Truist Financial boosted their price target on shares of Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Rivian Automotive in a research note on Tuesday, September 10th. Finally, Piper Sandler reiterated an “overweight” rating and set a $21.00 target price on shares of Rivian Automotive in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Rivian Automotive has a consensus rating of “Hold” and a consensus price target 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.