Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by abrdn plc

abrdn plc grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,507,829 shares of the electric vehicle automaker’s stock after acquiring an additional 299,593 shares during the period. abrdn plc owned about 0.16% of Rivian Automotive worth $35,374,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RIVN. Bear Mountain Capital Inc. purchased a new stake in shares of Rivian Automotive during the fourth quarter worth about $26,000. Ancora Advisors LLC purchased a new stake in shares of Rivian Automotive during the third quarter worth about $27,000. MCF Advisors LLC increased its stake in shares of Rivian Automotive by 396.8% during the third quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Rivian Automotive by 1,537.0% during the third quarter. First Horizon Advisors Inc. now owns 1,326 shares of the electric vehicle automaker’s stock worth $32,000 after purchasing an additional 1,245 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new stake in Rivian Automotive during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Rivian Automotive Price Performance

Shares of RIVN opened at $8.79 on Tuesday. The company has a current ratio of 4.95, a quick ratio of 3.90 and a debt-to-equity ratio of 0.48. The firm’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $15.77. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of -1.53 and a beta of 1.88. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $28.06.

Rivian Automotive (NASDAQ:RIVN) last posted its earnings results on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) EPS for the quarter, beating analysts’ consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. Equities analysts forecast that Rivian Automotive, Inc. will post -4.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RIVN. Wells Fargo & Company dropped their price objective on shares of Rivian Automotive from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price objective on shares of Rivian Automotive in a research note on Wednesday, April 3rd. Robert W. Baird dropped their price target on shares of Rivian Automotive from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 price target on shares of Rivian Automotive in a research note on Tuesday, April 2nd. Finally, UBS Group upgraded shares of Rivian Automotive from a “sell” rating to a “neutral” rating and set a $9.00 price objective on the stock in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Rivian Automotive currently has an average rating of “Moderate Buy” and an average target price of $19.61.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 2,946 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares of the company’s stock, valued at approximately $2,523,133.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Rivian Automotive news, CFO Claire Mcdonough sold 2,946 shares of Rivian Automotive stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.20, for a total value of $47,725.20. Following the transaction, the chief financial officer now directly owns 155,749 shares in the company, valued at $2,523,133.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the transaction, the insider now owns 407,787 shares in the company, valued at $5,223,751.47. The disclosure for this sale can be found here. Insiders have sold 54,306 shares of company stock valued at $717,274 in the last ninety days. Insiders own 2.30% of the company’s stock.

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.