2,876,965 Shares in Rivian Automotive, Inc. $RIVN Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 2.88 million Rivian shares worth approximately $49.9 million in the second quarter, while institutional investors collectively owned 66.25% of the company.
• Rivian reported a quarterly loss of $0.63 per share but exceeded expectations, with revenue of $1.66 billion—up 27.2% year over year. The company remains unprofitable, with analysts expecting a full-year loss of $2.98 per share.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $19.05 target price. Investor concerns include insider selling and CFO Claire McDonough’s planned departure on October 30, even as Rivian prepares to ramp production of its more affordable R2 SUV.

Bank of New York Mellon Corp purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,876,965 shares of the electric vehicle automaker's stock, valued at approximately $49,915,000. Bank of New York Mellon Corp owned about 0.21% of Rivian Automotive at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its position in shares of Rivian Automotive by 2.1% during the second quarter. Handelsbanken Fonder AB now owns 270,800 shares of the electric vehicle automaker's stock valued at $4,698,000 after purchasing an additional 5,600 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Rivian Automotive by 6.8% in the second quarter. Valeo Financial Advisors LLC now owns 25,887 shares of the electric vehicle automaker's stock worth $449,000 after acquiring an additional 1,642 shares during the period. Assenagon Asset Management S.A. lifted its stake in Rivian Automotive by 2.0% in the second quarter. Assenagon Asset Management S.A. now owns 56,758 shares of the electric vehicle automaker's stock valued at $985,000 after purchasing an additional 1,134 shares during the last quarter. Western Wealth Management LLC bought a new position in Rivian Automotive during the first quarter valued at $179,000. Finally, Rathbones Group PLC purchased a new stake in Rivian Automotive in the first quarter worth $237,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $16.80 on Friday. The firm has a market cap of $24.32 billion, a PE ratio of -6.51 and a beta of 1.61. Rivian Automotive, Inc. has a 12-month low of $12.39 and a 12-month high of $22.69. The company's fifty day simple moving average is $16.50 and its two-hundred day simple moving average is $15.89. The company has a quick ratio of 1.65, a current ratio of 2.10 and a debt-to-equity ratio of 0.87.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.03. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the company posted ($0.97) EPS. The company's quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities analysts expect that Rivian Automotive, Inc. will post -2.98 EPS for the current year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 8,023 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total value of $128,368.00. Following the sale, the chief financial officer directly owned 819,178 shares of the company's stock, valued at approximately $13,106,848. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the sale, the director directly owned 110,000 shares in the company, valued at approximately $2,200,000. This represents a 15.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 41,167 shares of company stock worth $718,956. Corporate insiders own 1.48% of the company's stock.

Wall Street Analyst Weigh In

RIVN has been the subject of several analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $19.00 target price on shares of Rivian Automotive in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft lowered shares of Rivian Automotive from a "buy" rating to an "underperform" rating in a research report on Tuesday, August 4th. TD Cowen lifted their price target on Rivian Automotive from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Benchmark reiterated a "buy" rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Rivian Automotive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 6th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.05.

Rivian Automotive News Summary

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Rivian benefited from a broader rebound in beaten-down EV stocks, with the Global X Autonomous & Electric Vehicles ETF also advancing. The sector-wide move helped support RIVN despite limited company-specific catalysts. Lucid Jumps 7%, Rivian Edges Higher: Is the EV Selloff Finally Exhausted?
• Positive Sentiment: Recent quarterly results, raised delivery guidance, and progress toward launching the more affordable R2 SUV line continue to support the investment case. Rivian previously exceeded revenue and EPS expectations, although it remains loss-making. Rivian Automotive Raised Delivery Guidance
• Neutral Sentiment: Analyst sentiment remains cautious, with Rivian receiving a consensus “Hold” rating. The company’s improving operating momentum is balanced against losses and valuation concerns after the stock’s strong recent performance. Rivian Receives Consensus Recommendation of Hold
• Negative Sentiment: Chief Financial Officer Claire McDonough will step down on October 30 to pursue another opportunity and relocate closer to family. Her departure comes as Rivian ramps production and prepares the affordable R2, creating concerns about execution and financial continuity. McDonough will remain for roughly two months to support the transition with CEO RJ Scaringe and the leadership team. Rivian Announces CFO Transition Plan

About Rivian Automotive

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.

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