Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by Forum Financial Management LP

Forum Financial Management LP grew its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 18.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,251 shares of the electric vehicle automaker’s stock after purchasing an additional 3,366 shares during the quarter. Forum Financial Management LP’s holdings in Rivian Automotive were worth $238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RIVN. Robeco Institutional Asset Management B.V. boosted its stake in shares of Rivian Automotive by 1,090.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 169,384 shares of the electric vehicle automaker’s stock worth $1,900,000 after acquiring an additional 155,150 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Rivian Automotive by 31.0% in the 3rd quarter. Van ECK Associates Corp now owns 372,093 shares of the electric vehicle automaker’s stock valued at $4,175,000 after purchasing an additional 88,047 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Rivian Automotive by 150.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 15,588 shares of the electric vehicle automaker’s stock worth $175,000 after purchasing an additional 9,357 shares during the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of Rivian Automotive by 106.1% during the third quarter. AustralianSuper Pty Ltd now owns 50,678 shares of the electric vehicle automaker’s stock worth $569,000 after buying an additional 26,092 shares in the last quarter. Finally, Financial Advocates Investment Management acquired a new stake in shares of Rivian Automotive in the third quarter valued at about $133,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RIVN shares. Wolfe Research assumed coverage on shares of Rivian Automotive in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Mizuho lowered their price objective on Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday. Truist Financial cut their target price on Rivian Automotive from $16.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Morgan Stanley cut shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $16.00 to $13.00 in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $15.00 price objective on shares of Rivian Automotive in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.95.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the sale, the chief executive officer now owns 886,526 shares of the company’s stock, valued at approximately $10,319,162.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the transaction, the chief executive officer now owns 886,526 shares in the company, valued at approximately $10,319,162.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the sale, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 169,876 shares of company stock worth $2,153,551 in the last ninety days. 2.51% of the stock is owned by corporate insiders.

Rivian Automotive Price Performance

RIVN opened at $10.59 on Wednesday. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of -1.78 and a beta of 2.04. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average price is $11.59 and its 200 day moving average price is $12.34. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.61.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. As a group, sell-side analysts expect that Rivian Automotive, Inc. will post -4.84 earnings per share for the current 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.