First Trust Advisors LP Reduces Stock Holdings in Rivian Automotive, Inc. $RIVN

First Trust Advisors LP lessened its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 21.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,060,801 shares of the electric vehicle automaker’s stock after selling 853,593 shares during the quarter. First Trust Advisors LP’s holdings in Rivian Automotive were worth $46,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RIVN. Capital International Investors grew its stake in Rivian Automotive by 13.2% in the 4th quarter. Capital International Investors now owns 20,769,844 shares of the electric vehicle automaker’s stock valued at $409,374,000 after acquiring an additional 2,418,717 shares during the last quarter. Renaissance Technologies LLC raised its position in Rivian Automotive by 32.4% during the fourth quarter. Renaissance Technologies LLC now owns 16,397,496 shares of the electric vehicle automaker’s stock worth $323,195,000 after acquiring an additional 4,012,386 shares during the last quarter. Geode Capital Management LLC raised its position in Rivian Automotive by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 14,782,865 shares of the electric vehicle automaker’s stock worth $290,568,000 after acquiring an additional 59,503 shares during the last quarter. Norges Bank purchased a new stake in shares of Rivian Automotive in the fourth quarter valued at about $220,323,000. Finally, Soma Equity Partners LP lifted its holdings in shares of Rivian Automotive by 9.9% in the third quarter. Soma Equity Partners LP now owns 9,204,745 shares of the electric vehicle automaker’s stock valued at $135,126,000 after purchasing an additional 829,782 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Key Rivian Automotive News

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

• Positive Sentiment: Rivian filed a lawsuit seeking a full refund of tariffs it paid under Trump-era import taxes, which could return tens of millions of dollars to the company if successful and provide a direct boost to cash flow. Rivian sues the US government for ‘full refund’ of Trump tariffs
• Positive Sentiment: Investor attention is also focusing on Rivian’s improving relative performance versus peers, with the stock benefiting from a broader rotation away from Tesla and toward EV names like Rivian. Tesla Sinks 18% in a Month as Lucid Climbs 21%, Rivian Gains 9%: SpaceX Anxiety or Cracks Under the Hood?
• Neutral Sentiment: Rivian remains in focus ahead of its June-quarter earnings report on July 30, with analysts debating whether the company can deliver a better-than-expected result after a volatile year-to-date performance. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Rivian is also being viewed as having a relatively weak setup for an earnings beat, which adds uncertainty but does not by itself confirm a major near-term catalyst. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: News that Volkswagen engineers were charged with insider trading tied to the Rivian joint venture may create some headline risk around the partnership, even though the allegations are aimed at individuals rather than Rivian itself. Volkswagen engineers charged with insider trading tied to Rivian joint venture

Rivian Automotive Price Performance

RIVN stock opened at $15.84 on Monday. The company has a 50 day moving average price of $16.32 and a two-hundred day moving average price of $15.98. 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 stock has a market capitalization of $21.56 billion, a P/E ratio of -5.42 and a beta of 1.60. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings results on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company posted ($0.48) EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Rivian Automotive, Inc. will post -3.06 EPS for the current year.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 8,023 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.00, for a total value of $128,368.00. Following the completion of the transaction, the chief financial officer directly owned 887,007 shares in the company, valued at approximately $14,192,112. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the transaction, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. This trade represents a 3.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 68,385 shares of company stock worth $1,125,094. 1.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rivian Automotive in a research note on Monday, June 15th. BNP Paribas Exane lifted their price objective on Rivian Automotive from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Canaccord Genuity Group reissued a “buy” rating and issued a $22.00 target price on shares of Rivian Automotive in a research note on Monday, April 6th. Finally, Tigress Financial reissued a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a research note on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.86.

Rivian Automotive Company Profile

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.