KBC Group NV Reduces Holdings in Rivian Automotive, Inc. $RIVN

KBC Group NV lowered its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 17.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 192,131 shares of the electric vehicle automaker’s stock after selling 42,029 shares during the period. KBC Group NV’s holdings in Rivian Automotive were worth $2,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SEB Asset Management AB purchased a new stake in shares of Rivian Automotive during the first quarter worth $2,561,000. Swiss National Bank lifted its stake in shares of Rivian Automotive by 8.2% in the first quarter. Swiss National Bank now owns 2,331,000 shares of the electric vehicle automaker’s stock worth $35,082,000 after buying an additional 176,500 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in shares of Rivian Automotive by 20.4% in the first quarter. SteelPeak Wealth LLC now owns 29,554 shares of the electric vehicle automaker’s stock worth $445,000 after buying an additional 5,005 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Rivian Automotive in the first quarter worth about $985,000. Finally, Wealthfront Advisers LLC boosted its position in Rivian Automotive by 4.8% during the first quarter. Wealthfront Advisers LLC now owns 319,857 shares of the electric vehicle automaker’s stock worth $4,814,000 after acquiring an additional 14,754 shares during the last quarter. Institutional investors and hedge funds own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RIVN shares. 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. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Rivian Automotive in a research note on Wednesday, June 10th. Jefferies Financial Group boosted their target price on Rivian Automotive from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Rivian Automotive in a research report on Friday, May 1st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rivian Automotive in a report on Monday, June 15th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.86.

Rivian Automotive Price Performance

Rivian Automotive stock opened at $15.84 on Friday. Rivian Automotive, Inc. has a 12-month low of $11.57 and a 12-month high of $22.69. The stock has a market cap of $21.56 billion, a P/E ratio of -5.42 and a beta of 1.60. The company has a 50-day moving average price of $16.32 and a 200 day moving average price of $16.00. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00.

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

Insider Activity

In related news, CEO Robert J. Scaringe sold 34,818 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the completion of the transaction, the chief executive officer directly owned 922,286 shares in the company, valued at approximately $13,834,290. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 8,023 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.00, for a total value of $128,368.00. Following the sale, the chief financial officer directly owned 887,007 shares of the company’s stock, valued at approximately $14,192,112. This trade represents 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. In the last 90 days, insiders have sold 68,385 shares of company stock valued at $1,125,094. 1.48% of the stock is currently owned by company insiders.

Key Rivian Automotive News

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

• Positive Sentiment: Rivian filed a lawsuit seeking a full refund of tariffs it paid under Trump-era import taxes, which could return tens of millions of dollars to the company if successful and provide a direct boost to cash flow. Rivian sues the US government for ‘full refund’ of Trump tariffs
• Positive Sentiment: Investor attention is also focusing on Rivian’s improving relative performance versus peers, with the stock benefiting from a broader rotation away from Tesla and toward EV names like Rivian. Tesla Sinks 18% in a Month as Lucid Climbs 21%, Rivian Gains 9%: SpaceX Anxiety or Cracks Under the Hood?
• Neutral Sentiment: Rivian remains in focus ahead of its June-quarter earnings report on July 30, with analysts debating whether the company can deliver a better-than-expected result after a volatile year-to-date performance. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Rivian is also being viewed as having a relatively weak setup for an earnings beat, which adds uncertainty but does not by itself confirm a major near-term catalyst. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week’s Release
• Negative Sentiment: News that Volkswagen engineers were charged with insider trading tied to the Rivian joint venture may create some headline risk around the partnership, even though the allegations are aimed at individuals rather than Rivian itself. Volkswagen engineers charged with insider trading tied to Rivian joint venture

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.