First Trust Advisors LP Trims Position in Rivian Automotive, Inc. $RIVN

Key Points

• First Trust Advisors LP cut its Rivian stake by 21.8% in the first quarter, selling 853,593 shares and retaining 3.06 million shares worth approximately $46.1 million. Institutional investors collectively own 66.25% of Rivian.
• Rivian insiders have also been net sellers, with CEO RJ Scaringe and Director Karen Boone selling shares under pre-arranged Rule 10b5-1 plans; insiders sold 68,385 shares worth $1.13 million over the past 90 days.
• Analyst sentiment remains mixed: 12 analysts rate Rivian a Buy, eight a Hold and six a Sell, producing an overall Hold rating and a consensus price target of $18.86 versus the stock’s reported $15.84 opening price.

First Trust Advisors LP decreased its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,060,801 shares of the electric vehicle automaker's stock after selling 853,593 shares during the period. First Trust Advisors LP owned approximately 0.25% of Rivian Automotive worth $46,065,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RIVN. Newbridge Financial Services Group Inc. increased its position in 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 valued at $26,000 after acquiring an additional 1,000 shares during the period. Core Wealth Advisors LLC acquired a new stake in Rivian Automotive during the 4th quarter worth approximately $27,000. SOA Wealth Advisors LLC. grew its stake in shares of Rivian Automotive by 894.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker's stock valued at $31,000 after purchasing an additional 1,395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Rivian Automotive in the 3rd quarter valued at approximately $31,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Rivian Automotive in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

Insider Buying and Selling

In other Rivian Automotive news, CEO Robert J. Scaringe sold 34,818 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $15.00, for a total value of $522,270.00. Following the completion of the transaction, the chief executive officer directly owned 922,286 shares of the company's stock, valued at approximately $13,834,290. This trade represents a 3.64% decrease in their ownership of the stock. The sale 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, Director Karen Boone sold 20,000 shares of Rivian Automotive stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 68,385 shares of company stock valued at $1,125,094. Corporate insiders own 1.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RIVN. DA Davidson increased their price target on Rivian Automotive from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Morgan Stanley raised their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 14th. UBS Group lifted their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Canaccord Genuity Group reiterated a "buy" rating and set a $22.00 price target on shares of Rivian Automotive in a research note on Monday, April 6th. Finally, Jefferies Financial Group increased their price target on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Tuesday, July 7th. Twelve equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, Rivian Automotive has an average rating of "Hold" and a consensus price target of $18.86.

Key Rivian Automotive News

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

• Positive Sentiment: Rivian filed a lawsuit seeking a full refund of tariffs it paid under Trump-era import taxes, which could return tens of millions of dollars to the company if successful and provide a direct boost to cash flow. Rivian sues the US government for ‘full refund' of Trump tariffs
• Positive Sentiment: Investor attention is also focusing on Rivian’s improving relative performance versus peers, with the stock benefiting from a broader rotation away from Tesla and toward EV names like Rivian. Tesla Sinks 18% in a Month as Lucid Climbs 21%, Rivian Gains 9%: SpaceX Anxiety or Cracks Under the Hood?
• Neutral Sentiment: Rivian remains in focus ahead of its June-quarter earnings report on July 30, with analysts debating whether the company can deliver a better-than-expected result after a volatile year-to-date performance. Rivian Automotive (RIVN) As June Quarter Results Near Fair Value Stays In Focus
• Neutral Sentiment: Rivian is also being viewed as having a relatively weak setup for an earnings beat, which adds uncertainty but does not by itself confirm a major near-term catalyst. Rivian Automotive (RIVN) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release
• Negative Sentiment: News that Volkswagen engineers were charged with insider trading tied to the Rivian joint venture may create some headline risk around the partnership, even though the allegations are aimed at individuals rather than Rivian itself. Volkswagen engineers charged with insider trading tied to Rivian joint venture

Rivian Automotive Price Performance

Rivian Automotive stock opened at $15.84 on Monday. Rivian Automotive, Inc. has a one year low of $11.57 and a one year high of $22.69. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.64 and a current ratio of 2.10. The business has a fifty day moving average of $16.32 and a two-hundred day moving average of $15.98. The company has a market cap of $21.56 billion, a P/E ratio of -5.42 and a beta of 1.60.

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

Rivian Automotive 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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