Mn Services Vermogensbeheer B.V. Decreases Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 7.3% in the 1st quarter, HoldingsChannel reports. The firm owned 236,300 shares of the electric vehicle automaker’s stock after selling 18,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Rivian Automotive were worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Dimension Capital Management LLC increased its position in shares of Rivian Automotive by 5.5% during the 4th quarter. Dimension Capital Management LLC now owns 15,616 shares of the electric vehicle automaker’s stock valued at $208,000 after purchasing an additional 819 shares during the last quarter. Tradition Wealth Management LLC increased its position in shares of Rivian Automotive by 7.2% during the 4th quarter. Tradition Wealth Management LLC now owns 12,604 shares of the electric vehicle automaker’s stock valued at $168,000 after purchasing an additional 849 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Rivian Automotive by 1.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 60,252 shares of the electric vehicle automaker’s stock valued at $750,000 after purchasing an additional 867 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Rivian Automotive by 4.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 26,611 shares of the electric vehicle automaker’s stock valued at $354,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Freestone Capital Holdings LLC increased its position in shares of Rivian Automotive by 4.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 29,312 shares of the electric vehicle automaker’s stock valued at $390,000 after purchasing an additional 1,164 shares during the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RIVN has been the subject of several recent research reports. Needham & Company LLC decreased their price objective on Rivian Automotive from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus lifted their price objective on Rivian Automotive from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, May 12th. UBS Group lifted their price objective on Rivian Automotive from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Cowen initiated coverage on Rivian Automotive in a report on Thursday, March 6th. They issued a “hold” rating for the company. Finally, Guggenheim reissued a “buy” rating and issued a $16.00 price objective on shares of Rivian Automotive in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.33.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the sale, the chief executive officer now owns 853,011 shares in the company, valued at $9,596,373.75. The trade was a 7.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Claire Mcdonough sold 9,937 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $15.00, for a total value of $149,055.00. Following the completion of the sale, the chief financial officer now owns 851,637 shares of the company’s stock, valued at $12,774,555. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 384,265 shares of company stock worth $5,201,750. 2.16% of the stock is currently owned by insiders.

Rivian Automotive Stock Performance

Shares of RIVN opened at $13.39 on Wednesday. The company has a market cap of $15.14 billion, a PE ratio of -3.60 and a beta of 1.86. The company has a current ratio of 3.73, a quick ratio of 2.80 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $13.76 and a 200-day moving average price of $13.13. Rivian Automotive, Inc. has a 12-month low of $9.50 and a 12-month high of $18.86.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.23. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $981.52 million. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted ($1.48) EPS. As a group, equities analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Rivian Automotive Company 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.