Robeco Institutional Asset Management BV increased its stake in Rivian Automotive (NASDAQ:RIVN – Get Rating) shares by 31.7% in the third quarter, according to its latest Securities and Exchange Commission filings. The institutional investor owned his 43,456 shares of the electric car maker’s stock after purchasing another 10,463 shares during the period. Robeco Institutional Asset Management BV’s Rivian Automotive holdings were valued at $1,430,000 at the end of the most recent quarter.
Many other institutional investors and hedge funds have also recently changed positions on RIVN. Bartlett & Co. LLC raised his Rivian Automotive stake by 104.2% in the second quarter. Bartlett & Co. LLC now owns 980 shares of the electric vehicle manufacturer worth $25,000 after acquiring an additional 500 shares during this period. Concord Wealth Partners purchased a new stake in his Rivian Automotive worth $25,000 in the second quarter. Venture Visionary Partners LLC purchased new shares in Rivian Automotive worth $27,000 in the second quarter. Seeyond bought new shares in his Rivian Automotive worth $27,000 in the second quarter. Finally, Exane Derivatives purchased new shares in Rivian Automotive worth $28,000 in the second quarter. An institutional investor owns his 67.97% of the company’s shares.
Wall Street Analyst Predicts Growth
Many brokerages have commented on RIVN. Wells Fargo & Company lowered Rivian Automotive’s price target from $35.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, November 10. Wedbush lowered Rivian Automotive’s price target from $45.00 to $37.00 in its report on Thursday, November 10, setting the stock’s valuation at ‘Outperform’. Robert W. Baird lowered his price target for Rivian Automotive from $51.00 to $44.00, giving the stock an “outperform” rating, in a report on Tuesday, Dec. 13. Cfra downgraded his Rivian Automotive rating to ‘sell’ and set a price target of $25.00. In a report on Friday, September 23rd. Finally, Piper Sandler lowered Rivian Automotive’s price target from $83.00 to $63.00 in his Thursday, November 10 research report, giving the stock an “overweight” rating. Two analysts rated the stock as Sell, six gave it Hold, and 12 analysts gave it Buy. According to MarketBeat.com, the stock has an average rating of ‘moderate buy’ with a consensus price target of 43.38.
In another Rivian Automotive news, CFO Claire Mcdonough sold 14,235 shares in the company in a transaction that took place on Tuesday, November 15th. The shares sold at an average price of 34.92 and the total transaction value was her 497,086.20. Following the closing of the transaction, the Chief Financial Officer now owns her 81,151 shares in the company, valued at approximately $2,833,792.92. The deal is disclosed in documents filed with the SEC and can be accessed at the SEC’s website. In other news, CAO’s Jeff Baker sold 1,689 shares of the company’s stock in a transaction that took place on Tuesday, November 15th. The shares were sold at an average price of 34.38 and the total transaction value he was 58,067.82. Following the completion of the sale, the Chief Accounting Officer now owns 89,331 shares of the Company’s stock valued at approximately 3,071,199.78. The sale was disclosed in legal filings with the SEC that can be accessed at this link. CFO Claire Mcdonough also sold 14,235 shares of the company in a transaction that took place on Tuesday, November 15th. The shares sold at an average price of 34.92 for a total trading value of 497,086.20. After the sale, the Chief Financial Officer now directly owns 81,151 shares of the company worth approximately 2,833,792.92. Please see here for the disclosure of this sale. A company insider owns his 2.34% of the company’s shares.
Rivian Automotive stock up 2.9%
NASDAQ RIVN shares opened at 17.58 on Friday. The company has a 50-day simple moving average of 25.34 and a 200-day simple moving average of 30.58. The company has a market capitalization of $16.19 billion, a PE ratio of -1.70 and a beta of 1.83. His one-year low for Rivian Automotive, Inc. is 15.84, and his one-year high is 86.94. The company has a debt to equity ratio of 0.08, a current ratio of 6.84 and a quick ratio of 6.39.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last reported quarterly results on Wednesday, November 9th. The electric car maker posted his earnings per share (EPS) of -1.57 for the quarter, beating consensus expectations of -1.78 by 0.21. Rivian Automotive had a net profit margin of 714.01% and a return on equity of 32.42%. The company’s quarterly revenue was 536 million, compared with analyst estimates of 513.89 million. On average, research analysts expect Rivian Automotive, Inc. to post an EPS of -7.41 for the current fiscal year.
About Rivian Automotive
Rivian Automotive, Inc designs, develops, manufactures and markets electric vehicles and accessories. The company offers five-passenger pickup trucks and sport utility vehicles. Partnering with Amazon.com to offer his Rivian commercial vehicle platform for electric delivery vans. The company sells its products directly to customers in the consumer and commercial markets.
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