SEB Asset Management AB Takes Position in Rivian Automotive, Inc. $RIVN

SEB Asset Management AB acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 170,158 shares of the electric vehicle automaker’s stock, valued at approximately $2,561,000.

A number of other institutional investors have also recently bought and sold shares of the business. Illinois Municipal Retirement Fund increased its holdings in shares of Rivian Automotive by 1.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 43,282 shares of the electric vehicle automaker’s stock valued at $853,000 after purchasing an additional 686 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Rivian Automotive by 3.2% during the fourth quarter. Merit Financial Group LLC now owns 23,127 shares of the electric vehicle automaker’s stock worth $456,000 after purchasing an additional 718 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Rivian Automotive by 36.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,764 shares of the electric vehicle automaker’s stock worth $54,000 after purchasing an additional 739 shares during the period. Utah Retirement Systems grew its position in Rivian Automotive by 0.6% during the fourth quarter. Utah Retirement Systems now owns 128,500 shares of the electric vehicle automaker’s stock valued at $2,533,000 after purchasing an additional 744 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its position in Rivian Automotive by 5.7% during the fourth quarter. Tradition Wealth Management LLC now owns 14,056 shares of the electric vehicle automaker’s stock valued at $277,000 after purchasing an additional 753 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Stock Performance

RIVN opened at $16.46 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. The company has a market cap of $22.40 billion, a PE ratio of -5.64 and a beta of 1.60. The stock has a 50-day moving average of $16.28 and a 200-day moving average of $16.01. Rivian Automotive, Inc. has a 52-week low of $11.57 and a 52-week high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.05. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business earned ($0.48) EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts forecast that Rivian Automotive, Inc. will post -3.06 earnings per share for the current fiscal year.

More Rivian Automotive News

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

• Positive Sentiment: Rivian remains in focus ahead of its July 30 earnings release, with recent coverage highlighting expectations for higher revenue and earnings versus the prior period. The stock has also shown some recent recovery over the past month, suggesting traders still see a turnaround case. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Longer-term bullish commentary is pointing to Rivian’s improving gross profitability trend and arguing the company has several factors that could support a durable investment case. 3 Big Reasons to Believe in Rivian Stock Long-Term
• Neutral Sentiment: Despite the recent attention, one analysis says Rivian does not currently have the key setup that typically leads to an earnings beat, which keeps expectations guarded heading into the report. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: Rivian is being pulled lower along with other EV stocks after Tesla reported a profit miss, which has raised fresh questions about demand, margins, and profitability across the sector. Tesla Slides 8% on Earnings Miss Despite Record Deliveries; Rivian, Lucid Slip
• Negative Sentiment: Broader commentary on the U.S. EV industry has been pessimistic, emphasizing shrinking market enthusiasm and the financial strain on young EV makers like Rivian, which can weigh on sentiment ahead of earnings. This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RIVN shares. DA Davidson lifted their target price on shares of Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Rivian Automotive in a report on Monday, June 15th. Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Rivian Automotive in a research report on Friday, May 1st. Weiss Ratings upgraded Rivian Automotive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Rivian Automotive in a research report on Monday, April 6th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.86.

Insider Activity

In related news, Director Karen Boone sold 20,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were 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 approximately $2,200,000. This trade represents a 15.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $522,270.00. Following the completion of the transaction, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. This trade represents a 3.64% 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. Insiders have sold a total of 68,385 shares of company stock valued at $1,125,094 over the last 90 days. 1.48% of the stock is currently owned by company insiders.

Rivian Automotive 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.