DekaBank Deutsche Girozentrale Has $5.25 Million Stock Holdings in Rivian Automotive, Inc. $RIVN

DekaBank Deutsche Girozentrale lessened its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 379,674 shares of the electric vehicle automaker’s stock after selling 4,427 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Rivian Automotive were worth $5,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RIVN. Banque Transatlantique SA increased its stake in shares of Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 2,243 shares during the last quarter. Fairman Group LLC acquired a new position in shares of Rivian Automotive during the 2nd quarter worth $31,000. WPG Advisers LLC acquired a new position in shares of Rivian Automotive during the 1st quarter worth $34,000. Olde Wealth Management LLC acquired a new position in shares of Rivian Automotive during the 1st quarter worth $37,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Rivian Automotive by 107.9% during the 1st quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker’s stock worth $41,000 after purchasing an additional 1,714 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 17,450 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $14.00, for a total value of $244,300.00. Following the completion of the transaction, the chief executive officer owned 1,316,205 shares of the company’s stock, valued at $18,426,870. This represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 7,247 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the transaction, the chief financial officer directly owned 789,445 shares of the company’s stock, valued at approximately $9,694,384.60. This trade represents a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,147 shares of company stock valued at $577,593. Insiders own 2.16% of the company’s stock.

Rivian Automotive Trading Down 0.8%

Rivian Automotive stock opened at $12.98 on Friday. The business has a 50 day moving average price of $13.70 and a two-hundred day moving average price of $13.50. The company has a quick ratio of 2.72, a current ratio of 3.44 and a debt-to-equity ratio of 0.73. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of -4.02 and a beta of 1.82. Rivian Automotive, Inc. has a 12 month low of $9.50 and a 12 month high of $17.15.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned ($1.46) EPS. As a group, equities analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RIVN. Canaccord Genuity Group restated a “buy” rating and set a $21.00 price target on shares of Rivian Automotive in a research note on Friday, October 3rd. Wedbush decreased their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Rivian Automotive in a report on Monday, August 25th. Guggenheim downgraded shares of Rivian Automotive from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Finally, Stifel Nicolaus decreased their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Rivian Automotive presently has a consensus rating of “Reduce” and an average price target of $13.76.

About Rivian Automotive

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.