J. Safra Sarasin Holding AG Has $1.16 Million Holdings in Rivian Automotive, Inc. $RIVN

J. Safra Sarasin Holding AG raised its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 250.8% in the 1st quarter, Holdings Channel reports. The firm owned 76,982 shares of the electric vehicle automaker’s stock after purchasing an additional 55,035 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Rivian Automotive were worth $1,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its position in shares of Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after buying an additional 1,000 shares during the last quarter. Core Wealth Advisors LLC bought a new position in shares of Rivian Automotive during the fourth quarter worth about $27,000. SOA Wealth Advisors LLC. lifted its stake in shares of Rivian Automotive by 894.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after acquiring an additional 1,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Rivian Automotive in the third quarter worth approximately $31,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Rivian Automotive in the fourth quarter worth approximately $33,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

Shares of RIVN stock opened at $17.50 on Wednesday. The company has a market cap of $21.72 billion, a price-to-earnings ratio of -5.99 and a beta of 1.60. Rivian Automotive, Inc. has a 52 week low of $11.57 and a 52 week high of $22.69. 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 50 day moving average of $15.85 and a 200-day moving average of $16.15.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings data on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the firm earned ($0.48) EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts forecast that Rivian Automotive, Inc. will post -3.07 earnings per share for the current year.

Rivian Automotive News Summary

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

• Positive Sentiment: California’s new EV rebate could support demand for Rivian by giving first-time EV buyers a $3,500 incentive on eligible vehicles, potentially helping models priced at or below the $50,000 cap. California’s new EV incentive gives a leg up to Lucid and Rivian
• Positive Sentiment: Rivian’s stock was noted by Zacks as outperforming the broader market, reflecting continued investor interest and momentum in the shares. Rivian Automotive (RIVN) Surpasses Market Returns: Some Facts Worth Knowing
• Positive Sentiment: Morgan Stanley raised its price target on Rivian to $13 from $12, which can signal slightly improved expectations even though the firm still rates the stock “underweight.” Morgan Stanley price target update via Benzinga
• Neutral Sentiment: Analysts say Rivian’s next major stock catalyst may be updates on R2 demand at its late-July earnings report, meaning investors are waiting for proof that the new vehicle platform is gaining traction. Rivian Stock Volatility Won’t Be Tamed by Earnings
• Neutral Sentiment: Coverage around Rivian-backed ALSO, the e-bike startup, keeps the company in the news but does not directly change Rivian’s core EV outlook in the near term. Inside ALSO, the Rivian-backed e-bike startup
• Negative Sentiment: Rivian was ranked last in a quality survey, which may reinforce concerns about product perception and execution. Rivian (RIVN) Ranked Last In Quality Survey While Backing Also With DoorDash
• Negative Sentiment: Commentary on Rivian’s recent share offering and ongoing volatility suggests investors remain focused on dilution risk and uncertainty around how quickly the company can convert product launches into sustained demand. Eyes on Rivian Automotive after R2 launch and large share offering

Analysts Set New Price Targets

A number of research firms have weighed in on RIVN. Benchmark reissued a “buy” rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, May 1st. Morgan Stanley boosted their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday. Wall Street Zen raised shares of Rivian Automotive from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings raised shares of Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Finally, Tigress Financial reiterated a “buy” rating and set a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, April 10th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.86.

Insider Buying and Selling at Rivian Automotive

In related news, Director Karen Boone sold 20,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the director directly owned 110,000 shares in the company, valued at $2,200,000. This trade represents a 15.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of Rivian Automotive stock in a transaction on Friday, May 29th. The shares were sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the sale, the chief financial officer directly owned 887,007 shares of the company’s stock, valued at approximately $14,192,112. The trade was a 0.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 78,630 shares of company stock valued at $1,309,504. Company insiders own 1.48% of the company’s stock.

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.