EULAV Asset Management Has $9.04 Million Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

EULAV Asset Management lessened its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 680,000 shares of the electric vehicle automaker’s stock after selling 20,000 shares during the period. EULAV Asset Management’s holdings in Rivian Automotive were worth $9,044,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RIVN. Tandem Financial LLC bought a new stake in shares of Rivian Automotive during the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB bought a new stake in Rivian Automotive during the 3rd quarter worth approximately $28,000. GHP Investment Advisors Inc. increased its position in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares during the period. American Capital Advisory LLC raised its stake in shares of Rivian Automotive by 267.6% during the third quarter. American Capital Advisory LLC now owns 2,900 shares of the electric vehicle automaker’s stock valued at $33,000 after acquiring an additional 2,111 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Rivian Automotive by 2,636.4% during the third quarter. Hantz Financial Services Inc. now owns 3,010 shares of the electric vehicle automaker’s stock worth $34,000 after purchasing an additional 2,900 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RIVN. UBS Group raised their target price on Rivian Automotive from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Royal Bank of Canada cut their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $20.00 target price on shares of Rivian Automotive in a research report on Friday, November 8th. Barclays boosted their price target on shares of Rivian Automotive from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Finally, Benchmark started coverage on shares of Rivian Automotive in a research report on Monday, December 9th. They set a “buy” rating and a $18.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.13.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $16.17, for a total value of $1,155,006.93. Following the completion of the sale, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $13,960,547.37. This represents a 7.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.03, for a total transaction of $32,196.30. Following the transaction, the chief financial officer now directly owns 378,498 shares in the company, valued at approximately $3,796,334.94. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 363,142 shares of company stock valued at $4,958,860. Corporate insiders own 2.51% of the company’s stock.

Rivian Automotive Price Performance

NASDAQ:RIVN opened at $12.48 on Friday. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. The firm has a 50-day moving average of $13.51 and a 200-day moving average of $12.74.

Rivian Automotive 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.