Bank of Nova Scotia Has $959,000 Stake in Rivian Automotive, Inc. $RIVN

Key Points

• Bank of Nova Scotia cut its Rivian stake by 91.4% in the first quarter, selling 675,338 shares and retaining 63,714 shares valued at approximately $959,000.
• Institutional investors collectively own 66.25% of Rivian, with Capital International Investors, Renaissance Technologies and Geode Capital Management among the company’s largest holders.
• Rivian reported quarterly revenue of $1.38 billion and an adjusted loss of $0.55 per share, while analysts maintain a mixed outlook with an average “Hold” rating and an average price target of $18.95.

Bank of Nova Scotia decreased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 91.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,714 shares of the electric vehicle automaker's stock after selling 675,338 shares during the quarter. Bank of Nova Scotia's holdings in Rivian Automotive were worth $959,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital International Investors increased its holdings in shares of Rivian Automotive by 13.2% during the fourth quarter. Capital International Investors now owns 20,769,844 shares of the electric vehicle automaker's stock worth $409,374,000 after purchasing an additional 2,418,717 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Rivian Automotive by 32.4% in the fourth quarter. Renaissance Technologies LLC now owns 16,397,496 shares of the electric vehicle automaker's stock valued at $323,195,000 after buying an additional 4,012,386 shares during the period. Geode Capital Management LLC boosted its stake in shares of Rivian Automotive by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 14,782,865 shares of the electric vehicle automaker's stock valued at $290,568,000 after buying an additional 59,503 shares during the period. Norges Bank bought a new stake in shares of Rivian Automotive in the fourth quarter valued at approximately $220,323,000. Finally, Soma Equity Partners LP grew its position in Rivian Automotive by 9.9% during the third quarter. Soma Equity Partners LP now owns 9,204,745 shares of the electric vehicle automaker's stock worth $135,126,000 after buying an additional 829,782 shares in the last quarter. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Performance

NASDAQ RIVN opened at $16.33 on Thursday. The firm's 50 day simple moving average is $16.51 and its 200 day simple moving average is $15.91. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of -5.59 and a beta of 1.60. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The electric vehicle automaker reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.05. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned ($0.48) earnings per share. The company's revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Rivian Automotive, Inc. will post -3.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RIVN has been the topic of a number of recent research reports. BNP Paribas Exane raised their price objective on Rivian Automotive from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. UBS Group upped their target price on Rivian Automotive from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Jefferies Financial Group increased their target price on Rivian Automotive from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Tuesday, July 7th. Canaccord Genuity Group restated a "buy" rating and issued a $22.00 price target on shares of Rivian Automotive in a research report on Monday, April 6th. Finally, Weiss Ratings raised Rivian Automotive from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, July 6th. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.95.

Insider Buying and Selling at Rivian Automotive

In other news, Director Karen Boone sold 20,000 shares of the business's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director owned 110,000 shares of the company's stock, valued at approximately $2,200,000. The trade was a 15.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total value of $522,270.00. Following the sale, the chief executive officer owned 922,286 shares of the company's stock, valued at approximately $13,834,290. This represents a 3.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 68,385 shares of company stock valued at $1,125,094. 1.48% of the stock is currently owned by corporate insiders.

Rivian Automotive News Summary

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

• Positive Sentiment: Uber investment and R2 purchase agreement: Uber has agreed to invest up to $1.2 billion in Rivian and potentially purchase as many as 50,000 R2 vehicles. The agreement could provide production visibility, funding and a pathway into autonomous ride-hailing, though the opportunity depends on successful R2 execution. Uber investment article
• Positive Sentiment: Piper Sandler upgrade: Piper Sandler raised Rivian to Overweight from Neutral and lifted its price target to $20 from $18, citing potential from the R2 launch and longer-term robotaxi applications. The bullish call offers support after the shares’ weak 2026 performance. Piper Sandler upgrade article
• Positive Sentiment: Production and delivery execution: Rivian has been beating expectations for production and deliveries, improving confidence that the company can support its upcoming R2 ramp. Rivian production article
• Neutral Sentiment: Earnings expectations are elevated: Analysts expect the second-quarter report to focus on R2 production timing, cash use and Rivian’s path toward profitability. The company’s results could produce a sizable move because investor expectations are already reflected in the stock. Rivian Q2 earnings expectations
• Neutral Sentiment: Analyst views remain mixed: Cantor Fitzgerald reaffirmed a Neutral rating while raising its price target to $19, indicating potential upside but continued caution about Rivian’s risk profile. Cantor Fitzgerald rating
• Negative Sentiment: Profitability and valuation remain concerns: Despite improving sales and production, Rivian continues to face substantial losses. Analysts caution that the stock is not clearly inexpensive relative to revenue and that a successful R2 ramp is essential to justify its valuation. Rivian valuation analysis
• Negative Sentiment: EV policy uncertainty: The expiration of federal EV tax credits adds pressure to consumer demand and industry economics, even as Georgia officials continue promoting EV manufacturing and customer choice. EV policy article

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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