Blair William & Co. IL Has $513,000 Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Blair William & Co. IL increased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,167 shares of the electric vehicle automaker’s stock after purchasing an additional 930 shares during the quarter. Blair William & Co. IL’s holdings in Rivian Automotive were worth $513,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Capital International Investors bought a new stake in Rivian Automotive during the 4th quarter worth approximately $144,030,000. Soma Equity Partners LP increased its stake in Rivian Automotive by 19.9% during the 4th quarter. Soma Equity Partners LP now owns 8,486,109 shares of the electric vehicle automaker’s stock worth $112,865,000 after purchasing an additional 1,407,772 shares in the last quarter. Northern Trust Corp increased its stake in Rivian Automotive by 68.5% during the 4th quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker’s stock worth $96,275,000 after purchasing an additional 2,941,928 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Rivian Automotive by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 3,199,174 shares of the electric vehicle automaker’s stock worth $39,830,000 after purchasing an additional 89,136 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Rivian Automotive by 26.8% during the 4th quarter. Nuveen Asset Management LLC now owns 2,847,211 shares of the electric vehicle automaker’s stock worth $37,868,000 after purchasing an additional 602,210 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Trading Up 1.2%

NASDAQ RIVN opened at $11.93 on Tuesday. The company has a market cap of $13.49 billion, a PE ratio of -3.69 and a beta of 1.80. The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. Rivian Automotive, Inc. has a 12 month low of $9.50 and a 12 month high of $17.15. The stock has a 50 day moving average of $13.33 and a 200-day moving average of $12.96.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.32). Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business earned ($1.46) EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,428 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.36, for a total transaction of $1,097,134.08. Following the completion of the sale, the chief executive officer owned 1,483,111 shares of the company’s stock, valued at $22,780,584.96. This trade represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 17,185 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $15.39, for a total value of $264,477.15. Following the sale, the chief financial officer directly owned 824,875 shares of the company’s stock, valued at $12,694,826.25. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,757 shares of company stock valued at $2,995,557 in the last ninety days. Insiders own 2.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RIVN shares. JPMorgan Chase & Co. lowered their target price on Rivian Automotive from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. Canaccord Genuity Group lowered their target price on Rivian Automotive from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Rivian Automotive from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Piper Sandler raised their price target on shares of Rivian Automotive from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Finally, Guggenheim cut shares of Rivian Automotive from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive presently has an average rating of “Hold” and an average price target of $13.73.

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.