131,369 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. acquired 131,369 shares of Rivian Automotive, Inc. valued at approximately $1.635 million in the first quarter.
• Rivian Automotive reported a loss of $0.97 EPS for the recent quarter, missing estimates while achieving revenue of $1.30 billion.
• Institutional investors and hedge funds now own 66.25% of Rivian's stock, with several investors recently adjusting their positions significantly.

ASR Vermogensbeheer N.V. purchased a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 131,369 shares of the electric vehicle automaker's stock, valued at approximately $1,635,000.

Other large investors have also made changes to their positions in the company. Capital International Investors acquired a new stake in Rivian Automotive in the fourth quarter valued at approximately $144,030,000. Vanguard Group Inc. boosted its position in Rivian Automotive by 7.8% in the first quarter. Vanguard Group Inc. now owns 77,092,693 shares of the electric vehicle automaker's stock valued at $959,804,000 after buying an additional 5,610,688 shares in the last quarter. Northern Trust Corp boosted its position in Rivian Automotive by 68.5% in the fourth quarter. Northern Trust Corp now owns 7,238,696 shares of the electric vehicle automaker's stock valued at $96,275,000 after buying an additional 2,941,928 shares in the last quarter. Twinbeech Capital LP acquired a new stake in Rivian Automotive in the fourth quarter valued at approximately $29,944,000. Finally, Soma Equity Partners LP boosted its position in Rivian Automotive by 19.9% in the fourth quarter. Soma Equity Partners LP now owns 8,486,109 shares of the electric vehicle automaker's stock valued at $112,865,000 after buying an additional 1,407,772 shares in the last quarter. Institutional investors and hedge funds own 66.25% of the company's stock.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $11.79 on Friday. The company has a current ratio of 3.44, a quick ratio of 2.80 and a debt-to-equity ratio of 0.73. The firm's 50-day moving average price is $13.37 and its 200-day moving average price is $12.96. The firm has a market capitalization of $13.33 billion, a P/E ratio of -3.65 and a beta of 1.80. Rivian Automotive, Inc. has a 1-year low of $9.50 and a 1-year high of $17.15.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. The business's quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.46) earnings per share. Equities research analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Claire Mcdonough sold 17,185 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.39, for a total value of $264,477.15. Following the completion of the sale, the chief financial officer directly owned 824,875 shares in the company, valued at $12,694,826.25. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Robert J. Scaringe sold 71,428 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $15.36, for a total value of $1,097,134.08. Following the completion of the sale, the chief executive officer owned 1,483,111 shares of the company's stock, valued at approximately $22,780,584.96. This represents a 4.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,694 shares of company stock valued at $3,144,612. 2.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho raised their price target on shares of Rivian Automotive from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Canaccord Genuity Group dropped their price target on shares of Rivian Automotive from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Rivian Automotive from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday. Finally, Wedbush dropped their price target on shares of Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Wednesday. Four analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.73.

Rivian Automotive Profile

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.

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