Coldstream Capital Management Inc. Raises Stock Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Coldstream Capital Management Inc. grew its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,662 shares of the electric vehicle automaker’s stock after buying an additional 6,201 shares during the period. Coldstream Capital Management Inc.’s holdings in Rivian Automotive were worth $615,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Rivian Automotive by 60.8% in the first quarter. Comerica Bank now owns 22,886 shares of the electric vehicle automaker’s stock worth $251,000 after purchasing an additional 8,653 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Rivian Automotive by 1.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock worth $492,000 after buying an additional 604 shares during the period. Blue Trust Inc. increased its stake in Rivian Automotive by 39.0% in the 2nd quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker’s stock worth $43,000 after buying an additional 907 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Rivian Automotive by 2.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,585,592 shares of the electric vehicle automaker’s stock valued at $21,279,000 after acquiring an additional 33,276 shares during the period. Finally, Raymond James & Associates lifted its position in shares of Rivian Automotive by 11.1% in the second quarter. Raymond James & Associates now owns 152,748 shares of the electric vehicle automaker’s stock valued at $2,050,000 after acquiring an additional 15,252 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on RIVN shares. Bank of America cut Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $13.00 in a report on Friday, November 8th. Wedbush restated an “outperform” rating and set a $20.00 target price on shares of Rivian Automotive in a research report on Friday, November 8th. Guggenheim reduced their price target on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Mizuho decreased their price target on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $14.00 price objective on shares of Rivian Automotive in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Rivian Automotive has an average rating of “Hold” and an average target price of $15.83.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $14.37 on Friday. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.61. The company has a current ratio of 5.09, a quick ratio of 3.70 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $11.08 and a 200-day moving average price of $12.65. The firm has a market capitalization of $14.67 billion, a PE ratio of -2.57 and a beta of 2.12.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total value of $937,507.50. Following the transaction, the chief executive officer now owns 863,361 shares of the company’s stock, valued at $9,712,811.25. This represents a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 8,097 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $12.20, for a total value of $98,783.40. Following the completion of the sale, the chief financial officer now owns 370,401 shares in the company, valued at approximately $4,518,892.20. The trade was a 2.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,974 shares of company stock valued at $2,038,483 in the last ninety days. 2.51% of the stock is owned by company insiders.

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.