Deutsche Bank Aktiengesellschaft Reiterates Hold Rating for Rivian Automotive (NASDAQ:RIVN)

Deutsche Bank Aktiengesellschaft reiterated their hold rating on shares of Rivian Automotive (NASDAQ:RIVN) in a research note published on Tuesday morning, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has a $14.00 target price on the electric vehicle automaker’s stock.

RIVN has been the topic of a number of other reports. Cantor Fitzgerald reissued an overweight rating and issued a $19.00 price objective on shares of Rivian Automotive in a research note on Monday, September 9th. Piper Sandler reissued an overweight rating and issued a $21.00 price target on shares of Rivian Automotive in a research report on Wednesday, June 26th. Guggenheim assumed coverage on shares of Rivian Automotive in a report on Tuesday, June 25th. They set a buy rating and a $18.00 price objective for the company. Mizuho raised their target price on shares of Rivian Automotive from $11.00 to $15.00 and gave the company a neutral rating in a research note on Friday, July 12th. Finally, DA Davidson upped their price target on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a neutral rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Rivian Automotive presently has a consensus rating of Hold and an average price target of $18.09.

Rivian Automotive Stock Performance

RIVN stock opened at $13.50 on Tuesday. The firm has a 50 day moving average of $14.88 and a two-hundred day moving average of $12.25. Rivian Automotive has a 12 month low of $8.26 and a 12 month high of $24.87. The company has a market capitalization of $13.61 billion, a price-to-earnings ratio of -2.34 and a beta of 2.06. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data 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 return on equity of 65.40% and a negative net margin of 115.50%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. As a group, equities analysts anticipate that Rivian Automotive will post -4.82 EPS for the current fiscal year.

Insider Transactions at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the sale, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 909,691 shares in the company, valued at approximately $15,482,940.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $43,559.70. Following the completion of the sale, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. The disclosure for this sale can be found here. In the last three months, insiders sold 417,497 shares of company stock valued at $6,732,150. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RIVN. Price T Rowe Associates Inc. MD increased its position in shares of Rivian Automotive by 35.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 97,071,739 shares of the electric vehicle automaker’s stock worth $2,277,304,000 after purchasing an additional 25,550,489 shares in the last quarter. Baillie Gifford & Co. grew its stake in Rivian Automotive by 714.3% during the first quarter. Baillie Gifford & Co. now owns 25,301,005 shares of the electric vehicle automaker’s stock worth $277,046,000 after buying an additional 22,194,018 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 worth $69,291,000 after buying an additional 5,937,605 shares in the last quarter. Norges Bank bought a new position in shares of Rivian Automotive in the fourth quarter valued at approximately $129,427,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Rivian Automotive by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 68,313,245 shares of the electric vehicle automaker’s stock worth $1,602,629,000 after acquiring an additional 4,467,881 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

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.