87,714 Shares in Rivian Automotive, Inc. $RIVN Purchased by Inceptionr LLC

Key Points

• Inceptionr LLC opened a new position in Rivian, buying 87,714 shares (~$1.21 million), joining other institutional buyers as institutions now own about 66.25% of the stock.
• Rivian reported $0.70 loss per share (vs. $0.72 expected) and revenue of $1.56 billion — up 78.3% year-over-year — showing top-line growth but continued unprofitability (negative margins and ROE).
• Insiders have been sellers recently: CEO Robert Scaringe sold 52,350 shares (~$869,010) on Nov. 11, and insiders sold 87,250 shares worth $1.36M in the last 90 days, with insiders owning about 2.16% of the company.

Inceptionr LLC acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 87,714 shares of the electric vehicle automaker's stock, valued at approximately $1,205,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RIVN. Caisse Des Depots ET Consignations bought a new position in Rivian Automotive during the 1st quarter valued at $2,807,000. Ethos Financial Group LLC bought a new stake in Rivian Automotive in the first quarter valued at $311,000. Tableaux LLC bought a new stake in Rivian Automotive in the second quarter valued at $3,435,000. Intech Investment Management LLC boosted its holdings in shares of Rivian Automotive by 522.0% during the first quarter. Intech Investment Management LLC now owns 350,965 shares of the electric vehicle automaker's stock valued at $4,370,000 after acquiring an additional 294,539 shares during the period. Finally, Udine Wealth Management Inc. bought a new position in shares of Rivian Automotive during the second quarter worth about $937,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Trading Up 2.6%

Rivian Automotive stock opened at $15.56 on Wednesday. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of -5.00 and a beta of 1.81. Rivian Automotive, Inc. has a 1 year low of $10.36 and a 1 year high of $18.13. The firm's 50 day moving average price is $14.33 and its two-hundred day moving average price is $13.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.23 and a current ratio of 2.71.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The electric vehicle automaker reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.02. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative return on equity of 57.33% and a negative net margin of 61.34%.The company's revenue was up 78.3% compared to the same quarter last year. During the same period last year, the company posted ($1.08) EPS. On average, research analysts predict that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert J. Scaringe sold 52,350 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total value of $869,010.00. Following the completion of the sale, the chief executive officer directly owned 1,246,405 shares of the company's stock, valued at approximately $20,690,323. This represents a 4.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 87,250 shares of company stock worth $1,357,610. Insiders own 2.16% of the company's stock.

Analyst Ratings Changes

RIVN has been the subject of a number of analyst reports. Canaccord Genuity Group reissued a "buy" rating and set a $21.00 target price on shares of Rivian Automotive in a research note on Friday, October 3rd. Stifel Nicolaus boosted their price objective on Rivian Automotive from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, November 17th. Tigress Financial lifted their target price on Rivian Automotive from $21.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, November 14th. Cfra Research raised shares of Rivian Automotive to a "moderate sell" rating in a report on Thursday, October 2nd. Finally, DA Davidson upped their price target on shares of Rivian Automotive from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.34.

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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