American Assets Investment Management LLC Invests $1.10 Million in Rivian Automotive, Inc. $RIVN

Key Points

• American Assets Investment Management LLC purchased a new stake of 75,000 Rivian shares in Q3, valued at approximately $1.10 million.
• Insiders have been net sellers recently — CEO Robert Scaringe sold 17,450 shares and insiders disposed of 172,504 shares worth about $3.01 million in the past 90 days, leaving insiders with roughly 2.16% ownership.
• Analyst sentiment is mixed with an average rating of "Hold" and an average target price of $16.74, while the stock trades near $14.81 and the company has a market cap of about $18.16 billion.

American Assets Investment Management LLC acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 75,000 shares of the electric vehicle automaker's stock, valued at approximately $1,101,000.

Several other institutional investors have also recently added to or reduced their stakes in RIVN. Assetmark Inc. raised its holdings in shares of Rivian Automotive by 315.6% in the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock worth $25,000 after purchasing an additional 1,357 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock valued at $26,000 after buying an additional 1,000 shares during the period. Mather Group LLC. acquired a new position in Rivian Automotive during the third quarter valued at approximately $30,000. Hemington Wealth Management lifted its position in Rivian Automotive by 291.0% during the third quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker's stock valued at $31,000 after buying an additional 1,580 shares in the last quarter. Finally, Fairman Group LLC purchased a new stake in Rivian Automotive during the second quarter worth approximately $31,000. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 17,450 shares of the business's stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $16.03, for a total transaction of $279,723.50. Following the completion of the transaction, the chief executive officer owned 1,115,209 shares in the company, valued at approximately $17,876,800.27. The trade was a 1.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter Krawiec sold 3,655 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $19.45, for a total transaction of $71,089.75. Following the completion of the transaction, the director owned 29,122 shares of the company's stock, valued at $566,422.90. This represents a 11.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 172,504 shares of company stock valued at $3,012,734. Insiders own 2.16% of the company's stock.

Wall Street Analysts Forecast Growth

RIVN has been the topic of a number of research reports. Evercore reissued an "outperform" rating on shares of Rivian Automotive in a research note on Monday, December 15th. Tigress Financial raised their price objective on Rivian Automotive from $21.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, November 14th. Morgan Stanley restated an "underweight" rating and set a $12.00 price objective on shares of Rivian Automotive in a research note on Monday, December 8th. The Goldman Sachs Group increased their target price on Rivian Automotive from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, December 12th. Finally, Piper Sandler raised their target price on Rivian Automotive from $14.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $16.74.

Rivian Automotive Trading Up 7.9%

NASDAQ:RIVN opened at $14.81 on Friday. The company has a market cap of $18.16 billion, a PE ratio of -4.76 and a beta of 1.76. The business's 50 day moving average is $17.89 and its two-hundred day moving average is $15.27. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87. Rivian Automotive, Inc. has a 52 week low of $10.36 and a 52 week high of $22.69.

Rivian Automotive Company Profile

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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