Aberdeen Group plc Has $23.10 Million Holdings in Rivian Automotive, Inc. $RIVN

Aberdeen Group plc increased its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 10.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,681,152 shares of the electric vehicle automaker’s stock after purchasing an additional 159,566 shares during the period. Aberdeen Group plc owned approximately 0.15% of Rivian Automotive worth $23,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIVN. Brighton Jones LLC lifted its holdings in Rivian Automotive by 28.0% during the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock worth $235,000 after acquiring an additional 3,864 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Rivian Automotive by 946.1% during the first quarter. GAMMA Investing LLC now owns 93,026 shares of the electric vehicle automaker’s stock worth $1,158,000 after acquiring an additional 84,133 shares in the last quarter. Park Avenue Securities LLC bought a new position in Rivian Automotive during the first quarter worth about $172,000. Farther Finance Advisors LLC lifted its holdings in Rivian Automotive by 173.9% during the first quarter. Farther Finance Advisors LLC now owns 15,970 shares of the electric vehicle automaker’s stock worth $212,000 after acquiring an additional 10,139 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Rivian Automotive by 1.5% during the first quarter. Assenagon Asset Management S.A. now owns 60,252 shares of the electric vehicle automaker’s stock worth $750,000 after acquiring an additional 867 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 17,450 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $14.00, for a total transaction of $244,300.00. Following the transaction, the chief executive officer owned 1,316,205 shares of the company’s stock, valued at $18,426,870. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 7,247 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the transaction, the chief financial officer directly owned 789,445 shares in the company, valued at $9,694,384.60. The trade was a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,147 shares of company stock worth $577,593. Company insiders own 2.16% of the company’s stock.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $13.06 on Tuesday. The business’s 50 day moving average price is $13.51 and its two-hundred day moving average price is $13.44. The company has a market cap of $15.85 billion, a PE ratio of -4.04 and a beta of 1.82. The company has a quick ratio of 2.72, a current ratio of 3.44 and a debt-to-equity ratio of 0.73. Rivian Automotive, Inc. has a twelve month low of $9.50 and a twelve month high of $17.15.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.32). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.Rivian Automotive’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned ($1.46) EPS. On average, analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RIVN. JPMorgan Chase & Co. reduced their target price on Rivian Automotive from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Morgan Stanley cut their price target on Rivian Automotive from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 13th. Wedbush cut their price target on Rivian Automotive from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Stifel Nicolaus cut their price target on Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Finally, Guggenheim lowered Rivian Automotive from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.90.

About Rivian Automotive

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.