Farther Finance Advisors LLC Increases Stake in Rivian Automotive, Inc. $RIVN

Key Points

• Farther Finance Advisors LLC significantly increased its stake in Rivian Automotive, raising its position by 124.2% during the second quarter, now owning 35,805 shares valued at approximately $492,000.
• Other large investors, including PFS Partners LLC and Banque Transatlantique SA, have also made substantial increases in their holdings of Rivian Automotive, indicating strong institutional interest in the company.
• Analysts have mixed views on Rivian, with price targets ranging from $12.00 to $18.00, and the stock currently holds a consensus rating of "Hold".

Farther Finance Advisors LLC raised its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 124.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,805 shares of the electric vehicle automaker's stock after purchasing an additional 19,835 shares during the period. Farther Finance Advisors LLC's holdings in Rivian Automotive were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of RIVN. PFS Partners LLC increased its position in shares of Rivian Automotive by 1,882.0% in the 1st quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock valued at $25,000 after purchasing an additional 1,882 shares during the last quarter. Banque Transatlantique SA boosted its stake in Rivian Automotive by 13,194.1% during the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock worth $26,000 after purchasing an additional 2,243 shares during the period. WPG Advisers LLC acquired a new stake in Rivian Automotive during the 1st quarter worth $34,000. Olde Wealth Management LLC acquired a new stake in Rivian Automotive during the 1st quarter worth $37,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Rivian Automotive by 107.9% in the 1st quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker's stock worth $41,000 after acquiring an additional 1,714 shares during the period. 66.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on RIVN. Mizuho raised their target price on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Wall Street Zen downgraded shares of Rivian Automotive from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Wedbush cut their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. UBS Group reduced their price target on shares of Rivian Automotive from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Morgan Stanley reduced their target price on shares of Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Rivian Automotive currently has a consensus rating of "Hold" and an average price target of $13.72.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 7,247 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $12.28, for a total transaction of $88,993.16. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 17,450 shares of the company's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $14.00, for a total transaction of $244,300.00. Following the sale, the chief executive officer directly owned 1,316,205 shares of the company's stock, valued at $18,426,870. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,147 shares of company stock valued at $577,593 over the last ninety days. Insiders own 2.16% of the company's stock.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $15.59 on Friday. Rivian Automotive, Inc. has a twelve month low of $9.50 and a twelve month high of $17.15. The company has a current ratio of 3.44, a quick ratio of 2.72 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of -4.83 and a beta of 1.81. The firm has a 50-day moving average of $13.44 and a two-hundred day moving average of $13.27.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company posted ($1.46) earnings per share. Rivian Automotive's revenue was up 12.5% compared to the same quarter last year. As a group, analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

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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