Rivian Automotive, Inc. $RIVN Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 229.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 319,001 shares of the electric vehicle automaker’s stock after acquiring an additional 222,100 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Rivian Automotive were worth $6,288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in Rivian Automotive in the fourth quarter valued at $329,000. Vise Technologies Inc. grew its holdings in Rivian Automotive by 11.2% during the fourth quarter. Vise Technologies Inc. now owns 12,029 shares of the electric vehicle automaker’s stock worth $237,000 after acquiring an additional 1,215 shares during the period. Daiwa Securities Group Inc. grew its holdings in Rivian Automotive by 30.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 84,251 shares of the electric vehicle automaker’s stock worth $1,661,000 after acquiring an additional 19,854 shares during the period. Verus Capital Partners LLC raised its position in Rivian Automotive by 105.5% during the fourth quarter. Verus Capital Partners LLC now owns 37,267 shares of the electric vehicle automaker’s stock valued at $735,000 after acquiring an additional 19,132 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Rivian Automotive by 8.0% during the fourth quarter. TD Asset Management Inc now owns 82,937 shares of the electric vehicle automaker’s stock valued at $1,635,000 after acquiring an additional 6,120 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Wall Street Analyst Weigh In

RIVN has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on Rivian Automotive from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Wedbush reiterated an “outperform” rating and issued a $25.00 target price on shares of Rivian Automotive in a research note on Friday, February 13th. TD Cowen reissued a “buy” rating and set a $20.00 price target on shares of Rivian Automotive in a report on Wednesday, June 3rd. Weiss Ratings upgraded shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Rivian Automotive in a report on Monday, April 6th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.57.

Trending Headlines about Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian shares have been rising as investors bet on strong reception for the upcoming R2 SUV launch, with some commentary calling it a potentially transformative step for the company. Here’s Why Rivian Stock Jumped This Week
• Positive Sentiment: Volkswagen’s $1 billion investment and minority stake in Rivian add validation to the company’s strategy and may improve investor confidence ahead of the R2 rollout. Volkswagen’s Rivian Stake Puts Focus On R2 Launch And Valuation Gap
• Positive Sentiment: TD Cowen reiterated a buy rating on Rivian, and unusual options activity showed heavy call buying, signaling that traders are still leaning bullish on the stock. Rivian Automotive (NASDAQ:RIVN) Given “Buy” Rating at TD Cowen
• Positive Sentiment: AT&T-related coverage highlighted Rivian as part of a connected-car growth story, with 5G support for the R2 potentially strengthening the vehicle’s appeal. Can AT&T’s Extended Tie-Ups for Connected Car Accelerate Growth?
• Neutral Sentiment: Some articles are framing Rivian as a high-risk, high-reward stock, noting that investors are waiting to see whether the R2 launch can justify the recent run-up in shares. If You Buy Rivian Right Now, Could It Make You a Millionaire?
• Negative Sentiment: The biggest risk for Rivian is that the stock’s recent strength is tied to expectations, so any disappointment around the R2 launch or demand outlook could pressure shares. Rivian: Wait For The R2 Launch

Insider Activity

In related news, CEO Robert J. Scaringe sold 34,818 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the completion of the transaction, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. This represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the transaction, the chief financial officer directly owned 887,007 shares in the company, valued at $14,192,112. This represents a 0.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 117,790 shares of company stock worth $1,832,466. Company insiders own 1.48% of the company’s stock.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $16.35 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. The firm has a fifty day moving average of $15.45 and a 200 day moving average of $16.34. The firm has a market cap of $20.29 billion, a PE ratio of -5.60 and a beta of 1.62. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69.

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.