Clare Market Investments LLC Makes New $916,000 Investment in Rivian Automotive, Inc. $RIVN

Clare Market Investments LLC purchased a new position in Rivian Automotive, Inc. (NASDAQ:RIVNFree Report) during the first quarter, HoldingsChannel.com reports. The fund purchased 60,850 shares of the electric vehicle automaker’s stock, valued at approximately $916,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. lifted its holdings in Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 1,000 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in Rivian Automotive in the fourth quarter worth $27,000. SOA Wealth Advisors LLC. lifted its stake in 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 valued at $31,000 after buying an additional 1,395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Rivian Automotive during the third quarter valued at $31,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Rivian Automotive in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Key Rivian Automotive News

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

Rivian Automotive Trading Down 11.1%

Shares of RIVN stock opened at $17.90 on Tuesday. 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 firm has a fifty day moving average of $15.71 and a 200-day moving average of $16.29. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of -6.08 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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RIVN. Weiss Ratings cut Rivian Automotive from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 18th. Benchmark restated a “buy” rating and issued a $25.00 target price on shares of Rivian Automotive in a research report on Friday, May 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Rivian Automotive in a research note on Monday, April 6th. Leerink Partners restated an “outperform” rating on shares of Rivian Automotive in a report on Thursday, March 12th. Finally, Tigress Financial reissued a “buy” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research note on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.57.

Check Out Our Latest Stock Analysis on RIVN

Insider Activity

In other news, CEO Robert J. Scaringe sold 34,818 shares of the business’s 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 sale, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $18.00, for a total transaction of $184,410.00. Following the transaction, the chief financial officer owned 946,814 shares in the company, valued at approximately $17,042,652. The trade was a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 80,076 shares of company stock worth $1,256,286. 1.48% of the stock is owned by corporate insiders.

Rivian Automotive Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding RIVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rivian Automotive, Inc. (NASDAQ:RIVNFree Report).

Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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