Capital Performance Advisors LLP Makes New Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Capital Performance Advisors LLP bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the third quarter, HoldingsChannel reports. The firm bought 3,953 shares of the electric vehicle automaker’s stock, valued at approximately $44,000.

Several other large investors have also modified their holdings of RIVN. Quent Capital LLC raised its stake in Rivian Automotive by 74.3% during the second quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 2,380 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Rivian Automotive by 63.2% during 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 in the last quarter. American Capital Advisory LLC lifted its stake in 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 worth $33,000 after purchasing an additional 2,111 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Rivian Automotive in the second quarter worth $37,000. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RIVN shares. UBS Group reduced their price target on shares of Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Barclays cut their target price on shares of Rivian Automotive from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Wolfe Research began coverage on Rivian Automotive in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Morgan Stanley downgraded Rivian Automotive from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $16.00 to $13.00 in a report on Wednesday, September 25th. Finally, Needham & Company LLC lowered their price objective on Rivian Automotive from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Rivian Automotive currently has a consensus rating of “Hold” and a consensus target price of $15.77.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $10.59 on Monday. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.61. The firm has a market cap of $10.68 billion, a P/E ratio of -1.89 and a beta of 2.04. The stock has a fifty day moving average price of $11.36 and a two-hundred day moving average price of $12.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25.

Insider Activity

In related news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 83,333 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,876 shares of company stock worth $2,153,551 over the last 90 days. 2.51% of the stock is currently 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.