Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by Sapient Capital LLC

Sapient Capital LLC grew its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,810 shares of the electric vehicle automaker’s stock after buying an additional 2,610 shares during the quarter. Sapient Capital LLC’s holdings in Rivian Automotive were worth $346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in Rivian Automotive by 714.3% during the 1st quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after acquiring an additional 22,194,018 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rivian Automotive by 1,521.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,327,941 shares of the electric vehicle automaker’s stock valued at $69,291,000 after buying an additional 5,937,605 shares in the last quarter. Vanguard Group Inc. boosted its stake in Rivian Automotive by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock valued at $1,602,629,000 after buying an additional 4,467,881 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Rivian Automotive by 153.2% during the second quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock valued at $72,877,000 after buying an additional 3,285,867 shares in the last quarter. Finally, Spirepoint Private Client LLC purchased a new stake in shares of Rivian Automotive during the first quarter valued at $15,635,000. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Down 1.4 %

RIVN opened at $10.35 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 4.01 and a current ratio of 5.25. Rivian Automotive, Inc. has a fifty-two week low of $8.26 and a fifty-two week high of $24.61. The firm’s fifty day moving average is $12.69 and its 200 day moving average is $12.28. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of -1.74 and a beta of 2.03.

Rivian Automotive (NASDAQ:RIVN) last announced its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. On average, sell-side analysts forecast that Rivian Automotive, Inc. will post -4.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RIVN shares. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Rivian Automotive in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $19.00 target price on shares of Rivian Automotive in a research note on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and set a $21.00 price objective on shares of Rivian Automotive in a research note on Wednesday, June 26th. Barclays boosted their price target on Rivian Automotive from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company dropped their target price on Rivian Automotive from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.68.

Insider Buying and Selling at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the sale, the chief executive officer now owns 886,526 shares of the company’s stock, valued at approximately $12,127,675.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total transaction of $1,139,995.44. Following the transaction, the chief executive officer now owns 886,526 shares in the company, valued at approximately $12,127,675.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $17.02, for a total transaction of $1,215,721.58. Following the completion of the sale, the chief executive officer now owns 909,691 shares in the company, valued at $15,482,940.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,305 shares of company stock valued at $3,369,273 in the last three months. Company insiders own 2.51% of the company’s stock.

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.