B. Metzler seel. Sohn & Co. Holding AG Takes $665,000 Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 59,243 shares of the electric vehicle automaker’s stock, valued at approximately $665,000.

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

Insider Activity at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $12,127,675.68. This trade represents a 8.59 % decrease in their position. 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 business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,876 shares of company stock valued at $2,142,188. 2.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price target on shares of Rivian Automotive in a research report on Tuesday, September 10th. The Goldman Sachs Group raised their price objective on Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler reduced their target price on Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered their price target on Rivian Automotive from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Rivian Automotive has an average rating of “Hold” and a consensus price target of $15.73.

Rivian Automotive Stock Up 2.2 %

RIVN stock opened at $10.24 on Friday. The company has a market cap of $10.45 billion, a price-to-earnings ratio of -1.83 and a beta of 2.04. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. The business has a 50 day moving average price of $10.75 and a two-hundred day moving average price of $12.40. The company has a quick ratio of 3.70, a current ratio of 5.09 and a debt-to-equity ratio of 0.93.

About Rivian Automotive

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.