Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 30.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 531,568 shares of the electric vehicle automaker’s stock after acquiring an additional 124,950 shares during the period. Mizuho Markets Americas LLC’s holdings in Rivian Automotive were worth $5,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Rivian Automotive by 1,870.7% during the third quarter. International Assets Investment Management LLC now owns 54,215 shares of the electric vehicle automaker’s stock worth $608,000 after purchasing an additional 51,464 shares during the period. Vontobel Holding Ltd. raised its holdings in Rivian Automotive by 543.8% in the 3rd 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 increased its position in shares of Rivian Automotive by 20.0% during the third quarter. Renaissance Capital LLC now owns 887,551 shares of the electric vehicle automaker’s stock valued at $9,958,000 after acquiring an additional 148,197 shares during the last quarter. Private Advisory Group LLC purchased a new stake in Rivian Automotive in the third quarter valued at approximately $2,109,000. Finally, Royal London Asset Management Ltd. lifted its stake in Rivian Automotive by 19.6% during the 2nd quarter. Royal London Asset Management Ltd. now owns 300,076 shares of the electric vehicle automaker’s stock worth $4,027,000 after acquiring an additional 49,216 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analysts Set New Price Targets

RIVN has been the topic of several research reports. Canaccord Genuity Group reduced their price target on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Truist Financial decreased their price target on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Barclays cut their price objective on Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company reduced their price objective on Rivian Automotive from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada lowered their target price on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.73.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the transaction, the chief executive officer now owns 886,526 shares of the company’s stock, valued at $10,319,162.64. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Down 2.4 %

Shares of RIVN opened at $10.06 on Friday. The firm has a fifty day moving average price of $11.09 and a 200 day moving average price of $12.41. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 4.01.

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.