Credit Agricole S A Has $1.01 Million Stake in Rivian Automotive, Inc. $RIVN

Key Points

• Credit Agricole S A has reduced its stake in Rivian Automotive by 36.7%, now holding 80,901 shares valued at approximately $1.01 million.
• Rivian's recent earnings report posted an EPS of ($0.97), missing estimates and showing a negative net margin of 68.06%, despite a year-over-year revenue increase of 12.5%.
• In recent analyst reports, price targets for Rivian's stock have been adjusted downwards by several firms, with the average consensus price target currently at $13.69.

Credit Agricole S A trimmed its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 36.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,901 shares of the electric vehicle automaker's stock after selling 46,861 shares during the period. Credit Agricole S A's holdings in Rivian Automotive were worth $1,007,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. PFS Partners LLC lifted its position in shares of Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock worth $25,000 after purchasing an additional 1,882 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Rivian Automotive during the fourth quarter worth approximately $34,000. Olde Wealth Management LLC acquired a new position in shares of Rivian Automotive during the first quarter worth approximately $37,000. Quarry LP acquired a new position in shares of Rivian Automotive during the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Rivian Automotive by 107.9% during the first quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker's stock worth $41,000 after purchasing an additional 1,714 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the sale, the chief financial officer owned 789,445 shares of the company's stock, valued at approximately $9,694,384.60. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.16% of the company's stock.

Rivian Automotive Stock Up 8.0%

Shares of NASDAQ:RIVN opened at $13.09 on Monday. Rivian Automotive, Inc. has a 52 week low of $9.50 and a 52 week high of $17.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.72 and a current ratio of 3.44. The company has a market capitalization of $15.88 billion, a PE ratio of -4.05 and a beta of 1.80. The company has a 50 day moving average price of $13.01 and a two-hundred day moving average price of $12.94.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.32). Rivian Automotive had a negative net margin of 68.06% and a negative return on equity of 58.07%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted ($1.46) EPS. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. Analysts forecast that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

Wall Street Analyst Weigh In

RIVN has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Rivian Automotive from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Stifel Nicolaus dropped their price target on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Morgan Stanley dropped their price target on shares of Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Wedbush dropped their price target on shares of Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Rivian Automotive from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $13.69.

About Rivian Automotive

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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