Capital International Investors Raises Stock Holdings in Rivian Automotive, Inc. $RIVN

Capital International Investors boosted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,769,844 shares of the electric vehicle automaker’s stock after buying an additional 2,418,717 shares during the period. Capital International Investors’ holdings in Rivian Automotive were worth $409,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RIVN. Norges Bank purchased a new stake in Rivian Automotive in the 4th quarter valued at about $220,323,000. Vanguard Group Inc. grew its position in Rivian Automotive by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock valued at $1,198,967,000 after acquiring an additional 2,597,310 shares in the last quarter. AQR Capital Management LLC grew its position in Rivian Automotive by 496.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker’s stock valued at $31,490,000 after acquiring an additional 1,918,852 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position in Rivian Automotive by 1,353.6% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker’s stock valued at $28,281,000 after acquiring an additional 1,916,686 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Rivian Automotive in the 4th quarter valued at about $24,263,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rivian Automotive

In other news, CFO Claire Mcdonough sold 10,245 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total transaction of $184,410.00. Following the completion of the transaction, the chief financial officer directly owned 946,814 shares of the company’s stock, valued at approximately $17,042,652. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing 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 business’s 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 directly owned 922,286 shares of the company’s stock, valued at approximately $13,834,290. This 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 three months, insiders have sold 117,790 shares of company stock valued at $1,832,466. Corporate insiders own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RIVN. Cantor Fitzgerald lifted their target price on Rivian Automotive from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Stifel Nicolaus lifted their target price on Rivian Automotive from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Bank of America began coverage on Rivian Automotive in a research report on Wednesday, March 4th. They issued an “underperform” rating and a $14.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Rivian Automotive in a research report on Monday, April 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Rivian Automotive in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average target price of $18.57.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $16.35 on Monday. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69. The company has a market cap of $20.29 billion, a PE ratio of -5.60 and a beta of 1.62. 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 business has a 50-day simple moving average of $15.45 and a 200-day simple moving average of $16.34.

More Rivian Automotive News

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

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.