American Capital Advisory LLC Has $33,000 Stake in Rivian Automotive, Inc. (NASDAQ:RIVN)

American Capital Advisory LLC grew its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 267.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,900 shares of the electric vehicle automaker’s stock after acquiring an additional 2,111 shares during the period. American Capital Advisory LLC’s holdings in Rivian Automotive were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RIVN. Baillie Gifford & Co. increased its stake in shares of Rivian Automotive by 30.5% during the 2nd quarter. Baillie Gifford & Co. now owns 33,015,793 shares of the electric vehicle automaker’s stock worth $443,072,000 after purchasing an additional 7,714,788 shares during the last quarter. Renaissance Technologies LLC increased its position 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 worth $72,877,000 after buying an additional 3,285,867 shares during the last quarter. Spirepoint Private Client LLC bought a new position in Rivian Automotive during the first quarter valued at about $15,635,000. AQR Capital Management LLC increased its holdings in shares of Rivian Automotive by 102.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,479,559 shares of the electric vehicle automaker’s stock valued at $33,276,000 after acquiring an additional 1,257,106 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Rivian Automotive by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 69,539,602 shares of the electric vehicle automaker’s stock worth $761,459,000 after purchasing an additional 1,226,357 shares during the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on RIVN shares. The Goldman Sachs Group dropped their price target on shares of Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Wolfe Research started coverage on shares of Rivian Automotive in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $19.00 price target on shares of Rivian Automotive in a research report on Monday, September 30th. Truist Financial dropped their price objective on Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Finally, UBS Group decreased their target price on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.95.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 3,210 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the sale, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Robert J. Scaringe sold 83,333 shares of the 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 sale, the chief executive officer now directly owns 886,526 shares in the company, valued at $12,127,675.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the sale, the chief financial officer now owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 169,876 shares of company stock valued at $2,153,551. 2.51% of the stock is currently owned by corporate insiders.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN traded down $0.94 during midday trading on Wednesday, reaching $9.65. 27,546,397 shares of the company traded hands, compared to its average volume of 38,533,656. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The stock’s 50-day simple moving average is $11.59 and its 200-day simple moving average is $12.34.

Rivian Automotive (NASDAQ:RIVN) last released its quarterly earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. As a group, analysts forecast that Rivian Automotive, Inc. will post -4.84 EPS for the current year.

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.