Rivian Automotive, Inc. $RIVN Shares Sold by Groupama Asset Managment

Key Points

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Groupama Asset Managment lessened its stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 25.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,500,000 shares of the electric vehicle automaker's stock after selling 500,000 shares during the period. Groupama Asset Managment owned 0.13% of Rivian Automotive worth $18,675,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. PFS Partners LLC increased its stake in 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 worth $25,000 after buying an additional 1,882 shares during the period. Orion Capital Management LLC purchased a new position in Rivian Automotive in the 4th quarter worth about $34,000. Quarry LP purchased a new position in Rivian Automotive in the 4th quarter worth about $38,000. Olde Wealth Management LLC purchased a new position in Rivian Automotive in the 1st quarter worth about $37,000. Finally, Golden State Wealth Management LLC increased its stake in 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 buying an additional 1,714 shares during the period. Hedge funds and other institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Up 8.0%

Shares of Rivian Automotive stock traded up $0.97 on Friday, reaching $13.09. The stock had a trading volume of 64,499,481 shares, compared to its average volume of 42,008,228. The company has a 50 day moving average price of $13.01 and a 200 day moving average price of $12.94. The stock has a market capitalization of $15.88 billion, a P/E ratio of -4.05 and a beta of 1.80. The company has a quick ratio of 2.72, a current ratio of 3.44 and a debt-to-equity ratio of 0.73. Rivian Automotive, Inc. has a 1 year low of $9.50 and a 1 year high of $17.15.

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

Insider Buying and Selling

In related news, CFO Claire Mcdonough sold 7,247 shares of Rivian Automotive 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 directly owned 789,445 shares in the company, valued at $9,694,384.60. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RIVN shares. Morgan Stanley reduced their price target on shares of Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 13th. Wedbush cut their target price on shares of Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company cut their target price on shares of Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Guggenheim downgraded shares of Rivian Automotive from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Finally, Piper Sandler raised their target price on shares of Rivian Automotive from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.69.

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.