Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by Ossiam

by · The Markets Daily

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Ossiam increased its stake in Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) by 142.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,730 shares of the electric vehicle automaker’s stock after buying an additional 12,164 shares during the quarter. Ossiam’s holdings in Rivian Automotive were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RIVN. Commerce Bank bought a new stake in Rivian Automotive in the first quarter worth about $160,000. Charles Schwab Investment Management Inc. raised its position in Rivian Automotive by 6.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,650,630 shares of the electric vehicle automaker’s stock worth $27,499,000 after acquiring an additional 95,574 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Rivian Automotive by 15.6% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 25,986 shares of the electric vehicle automaker’s stock worth $422,000 after acquiring an additional 3,500 shares in the last quarter. Northern Trust Corp raised its position in Rivian Automotive by 27.6% in the second quarter. Northern Trust Corp now owns 3,690,703 shares of the electric vehicle automaker’s stock worth $61,487,000 after acquiring an additional 797,854 shares in the last quarter. Finally, Cetera Advisors LLC raised its position in Rivian Automotive by 15.7% in the second quarter. Cetera Advisors LLC now owns 21,418 shares of the electric vehicle automaker’s stock worth $357,000 after acquiring an additional 2,914 shares in the last quarter. Institutional investors and hedge funds own 62.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RIVN shares. Robert W. Baird boosted their price target on shares of Rivian Automotive from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Wells Fargo & Company dropped their price target on shares of Rivian Automotive from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 8th. DA Davidson boosted their price objective on Rivian Automotive from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Rivian Automotive from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Canaccord Genuity Group boosted their price objective on Rivian Automotive from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.95.

View Our Latest Analysis on RIVN

Rivian Automotive Trading Up 7.6 %

Shares of NASDAQ RIVN opened at $18.03 on Monday. The stock has a market cap of $17.27 billion, a price-to-earnings ratio of -2.99 and a beta of 1.93. The business has a 50 day simple moving average of $18.16 and a 200 day simple moving average of $19.53. Rivian Automotive, Inc. has a 52 week low of $11.68 and a 52 week high of $31.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.64 and a current ratio of 4.61.

Rivian Automotive (NASDAQ:RIVN – Get Free Report) last announced its quarterly earnings results on Tuesday, November 7th. The electric vehicle automaker reported ($1.44) EPS for the quarter, beating the consensus estimate of ($1.61) by $0.17. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Rivian Automotive had a negative return on equity of 42.17% and a negative net margin of 148.97%. The firm’s quarterly revenue was up 149.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.57) EPS. On average, research analysts predict that Rivian Automotive, Inc. will post -5.94 earnings per share for the current fiscal year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,265 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $17.08, for a total transaction of $55,766.20. Following the completion of the sale, the chief financial officer now owns 173,030 shares of the company’s stock, valued at $2,955,352.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Rivian Automotive Company Profile

(Free Report)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.

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