225,445 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 225,445 shares of the electric vehicle automaker's stock, valued at approximately $2,807,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PFS Partners LLC increased its position in Rivian Automotive by 1,882.0% in the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock valued at $25,000 after acquiring an additional 1,882 shares during the period. Orion Capital Management LLC bought a new stake in shares of Rivian Automotive in the 4th quarter valued at $34,000. Olde Wealth Management LLC bought a new stake in shares of Rivian Automotive in the 1st quarter valued at $37,000. Quarry LP bought a new stake in shares of Rivian Automotive in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Rivian Automotive by 107.9% in the 1st quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker's stock valued at $41,000 after purchasing an additional 1,714 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIVN has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $16.00 price objective on shares of Rivian Automotive in a research note on Wednesday, May 14th. Wall Street Zen lowered shares of Rivian Automotive from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Canaccord Genuity Group reduced their price objective on shares of Rivian Automotive from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Rivian Automotive from $10.00 to $9.00 and set an "underweight" rating on the stock in a research note on Wednesday. Finally, Guggenheim lowered shares of Rivian Automotive from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.82.

Rivian Automotive Stock Up 3.7%

Rivian Automotive stock opened at $12.07 on Friday. Rivian Automotive, Inc. has a 1-year low of $9.50 and a 1-year high of $17.15. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of -3.74 and a beta of 1.80. The firm's fifty day moving average price is $13.42 and its two-hundred day moving average price is $12.97. The company has a current ratio of 3.44, a quick ratio of 2.80 and a debt-to-equity ratio of 0.73.

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

Insider Activity

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.