Longitude Cayman Ltd. Invests $986,000 in Rivian Automotive, Inc. $RIVN

Longitude Cayman Ltd. purchased a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,000 shares of the electric vehicle automaker’s stock, valued at approximately $986,000. Rivian Automotive makes up about 0.4% of Longitude Cayman Ltd.’s investment portfolio, making the stock its 27th biggest holding.

A number of other hedge funds have also made changes to their positions in RIVN. Illinois Municipal Retirement Fund increased its stake in shares of Rivian Automotive by 1.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 43,282 shares of the electric vehicle automaker’s stock valued at $853,000 after buying an additional 686 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Rivian Automotive by 3.2% in the fourth quarter. Merit Financial Group LLC now owns 23,127 shares of the electric vehicle automaker’s stock valued at $456,000 after buying an additional 718 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Rivian Automotive by 36.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,764 shares of the electric vehicle automaker’s stock valued at $54,000 after buying an additional 739 shares in the last quarter. Tradition Wealth Management LLC increased its stake in shares of Rivian Automotive by 5.7% in the fourth quarter. Tradition Wealth Management LLC now owns 14,056 shares of the electric vehicle automaker’s stock valued at $277,000 after buying an additional 753 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in shares of Rivian Automotive by 5.2% in the third quarter. Prospera Financial Services Inc now owns 15,803 shares of the electric vehicle automaker’s stock valued at $232,000 after buying an additional 775 shares in the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RIVN. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, May 1st. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Rivian Automotive in a research report on Wednesday. Leerink Partners reiterated an “outperform” rating on shares of Rivian Automotive in a research report on Thursday, March 12th. Weiss Ratings upgraded Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 3rd. Finally, Piper Sandler lowered their price objective on Rivian Automotive from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.57.

Insider Activity

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 in the company, valued at approximately $17,042,652. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owned 922,286 shares of the company’s stock, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 117,790 shares of company stock valued at $1,832,466 over the last 90 days. Corporate insiders own 1.48% of the company’s stock.

More Rivian Automotive News

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

• Positive Sentiment: AT&T expanded its partnership with Rivian to provide 5G connectivity for the upcoming R2 platform in the U.S. and Canada, reinforcing Rivian’s software-defined vehicle strategy and supporting over-the-air updates, infotainment, and real-time features. AT&T (T) Expands Partnership With Rivian (RIVN) to Provide 5G Connectivity for R2 Platform
• Positive Sentiment: Needham reiterated a Buy rating on Rivian and set a $23 price target, signaling continued analyst confidence despite recent volatility.
• Positive Sentiment: Some commentary argues Rivian’s Q1 results showed a more mature business model taking shape, with software becoming a more important profit driver as the R2 launch gets underway. Rivian vs Lucid: This EV Stock Is The Better Buy
• Neutral Sentiment: Rivian began deliveries of the lower-priced R2 SUV, a major product milestone that could boost demand over time, but it has also triggered debate about whether the vehicle is compelling enough versus rivals like Tesla’s Model Y. Rivian stock falls as R2 SUV deliveries begin, June 2026
• Negative Sentiment: Several reports said Rivian shares fell after R2 deliveries began, as investors worried about high lease payments, missing software features, and whether the new model’s value proposition is strong enough to compete. RIVN Stock Rises Overnight: Analyst Urges Bears To Test Drive R2 Before Betting Against Rivian
• Negative Sentiment: Market coverage also highlighted that Rivian dipped more than the broader market in the latest session, reflecting investor caution around the stock after the R2 launch news. Why Rivian Automotive (RIVN) Dipped More Than Broader Market Today

Rivian Automotive Price Performance

Shares of RIVN stock opened at $15.54 on Friday. The stock has a 50-day moving average price of $15.51 and a 200 day moving average price of $16.36. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of -5.32 and a beta of 1.62. Rivian Automotive, Inc. has a 12 month low of $11.57 and a 12 month high of $22.69.

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.