BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in Rivian Automotive, Inc. $RIVN

Key Points

• BI Asset Management boosted its Rivian stake by 229.2% in the fourth quarter, buying 222,100 more shares and bringing its total to 319,001 shares worth about $6.29 million.
• Rivian is getting attention from bullish catalysts, including investor optimism ahead of the upcoming R2 SUV launch and Volkswagen’s $1 billion investment and minority stake in the company.
• Despite positive sentiment, insider selling and a mixed analyst picture remain factors to watch: CEO Robert J. Scaringe and CFO Claire Mcdonough sold shares recently, while the stock carries a Hold consensus rating and an average target price of $18.57.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 229.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,001 shares of the electric vehicle automaker's stock after buying an additional 222,100 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Rivian Automotive were worth $6,288,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. lifted its holdings in shares of Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker's stock worth $26,000 after buying an additional 1,000 shares during the period. Core Wealth Advisors LLC purchased a new position in shares of Rivian Automotive during the fourth quarter valued at $27,000. SOA Wealth Advisors LLC. raised its holdings in shares of Rivian Automotive by 894.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker's stock valued at $31,000 after acquiring an additional 1,395 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Rivian Automotive in the third quarter valued at about $31,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in Rivian Automotive by 96.3% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker's stock worth $34,000 after acquiring an additional 852 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

Rivian Automotive News Roundup

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

• Positive Sentiment: Rivian shares have been rising as investors bet on strong reception for the upcoming R2 SUV launch, with some commentary calling it a potentially transformative step for the company. Here's Why Rivian Stock Jumped This Week
• Positive Sentiment: Volkswagen’s $1 billion investment and minority stake in Rivian add validation to the company’s strategy and may improve investor confidence ahead of the R2 rollout. Volkswagen’s Rivian Stake Puts Focus On R2 Launch And Valuation Gap
• Positive Sentiment: TD Cowen reiterated a buy rating on Rivian, and unusual options activity showed heavy call buying, signaling that traders are still leaning bullish on the stock. Rivian Automotive NASDAQ: RIVN Given "Buy" Rating at TD Cowen
• Positive Sentiment: AT&T-related coverage highlighted Rivian as part of a connected-car growth story, with 5G support for the R2 potentially strengthening the vehicle’s appeal. Can AT&T's Extended Tie-Ups for Connected Car Accelerate Growth?
• Neutral Sentiment: Some articles are framing Rivian as a high-risk, high-reward stock, noting that investors are waiting to see whether the R2 launch can justify the recent run-up in shares. If You Buy Rivian Right Now, Could It Make You a Millionaire?
• Negative Sentiment: The biggest risk for Rivian is that the stock’s recent strength is tied to expectations, so any disappointment around the R2 launch or demand outlook could pressure shares. Rivian: Wait For The R2 Launch

Wall Street Analyst Weigh In

A number of research analysts have commented on RIVN shares. Wedbush reissued an "outperform" rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, February 13th. Weiss Ratings raised shares of Rivian Automotive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. TD Cowen reiterated a "buy" rating and set a $20.00 price objective on shares of Rivian Automotive in a research note on Wednesday, June 3rd. Needham & Company LLC reissued a "buy" rating and issued a $23.00 price objective on shares of Rivian Automotive in a research note on Friday, May 1st. Finally, BNP Paribas Exane restated an "outperform" rating and set a $22.00 target price (down from $23.00) on shares of Rivian Automotive in a report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.57.

Insiders Place Their Bets

In other news, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the completion of the sale, the chief executive officer directly owned 922,286 shares in the company, valued at approximately $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the business's stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $18.00, for a total transaction of $184,410.00. Following the sale, the chief financial officer directly owned 946,814 shares in the company, valued at $17,042,652. This trade represents a 1.07% 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 ninety days, insiders sold 117,790 shares of company stock valued at $1,832,466. Corporate insiders own 1.48% of the company's stock.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $16.35 on Monday. The company has a 50 day moving average price of $15.45 and a 200 day moving average price of $16.34. The firm has a market capitalization of $20.29 billion, a P/E ratio of -5.60 and a beta of 1.62. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. Rivian Automotive, Inc. has a 52 week low of $11.57 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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