100,100 Shares in Rivian Automotive, Inc. $RIVN Acquired by Polianta Ltd

Polianta Ltd bought a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,100 shares of the electric vehicle automaker’s stock, valued at approximately $1,506,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its stake in shares of Rivian Automotive by 113.6% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 1,000 shares during the last quarter. Core Wealth Advisors LLC bought a new stake in shares of Rivian Automotive during the 4th quarter valued at $27,000. SOA Wealth Advisors LLC. increased its stake in shares of Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after purchasing an additional 1,395 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Rivian Automotive in the 3rd quarter worth $31,000. Finally, Zions Bancorporation National Association UT bought a new position in Rivian Automotive in the 4th quarter worth $33,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

Shares of RIVN stock opened at $16.52 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69. The company’s fifty day moving average price is $15.67 and its 200-day moving average price is $16.38. The company has a market capitalization of $20.50 billion, a price-to-earnings ratio of -5.66 and a beta of 1.62.

Insider Buying and Selling at Rivian Automotive

In other news, 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 in the company, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total value 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. This trade represents a 1.07% decrease in their position. 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 sold a total of 100,340 shares of company stock valued at $1,560,246 in the last ninety days. 1.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Tigress Financial reiterated a “buy” rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, April 10th. BNP Paribas Exane restated an “outperform” rating and issued a $22.00 price target (down from $23.00) on shares of Rivian Automotive in a research report on Friday, May 1st. Benchmark reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research note on Friday, May 1st. Bank of America initiated coverage on Rivian Automotive in a research report on Wednesday, March 4th. They set an “underperform” rating and a $14.00 price objective on the stock. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $15.00 price objective on shares of Rivian Automotive in a research note on Tuesday, March 3rd. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.57.

Rivian Automotive Company Profile

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.