Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Rivian Automotive, Inc. $RIVN

Key Points

• Mitsubishi UFJ Asset Management increased its Rivian stake by 14.8% in Q4, ending with 895,197 shares worth about $17.4 million. Institutional investors still own a large portion of the company, with hedge funds and institutions holding about 66.25% of the stock.
• Analyst sentiment is mixed: Rivian has a consensus rating of “Hold” and an average price target of $18.52. Recent firms have issued both bullish and cautious calls, including buy ratings from Needham and Wedbush and a hold rating from Jefferies.
• Insiders have been selling shares, including CFO Claire McDonough and CEO Robert J. Scaringe, both under pre-arranged 10b5-1 trading plans. Rivian’s latest quarter also showed revenue growth pressure, though it beat EPS and revenue estimates, and the stock recently traded near $14.22.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 895,197 shares of the electric vehicle automaker's stock after buying an additional 115,190 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Rivian Automotive worth $17,376,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. grew its position in Rivian Automotive by 113.6% in the second 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 in the last quarter. Hemington Wealth Management boosted its stake in shares of Rivian Automotive by 291.0% in the third quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker's stock valued at $31,000 after purchasing an additional 1,580 shares during the period. SOA Wealth Advisors LLC. boosted its stake 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 purchasing an additional 1,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Rivian Automotive during the 3rd quarter valued at $31,000. Finally, Glass Jacobson Investment Advisors llc increased its stake in Rivian Automotive by 96.3% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker's stock worth $34,000 after buying an additional 852 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RIVN shares. Needham & Company LLC reiterated a "buy" rating and issued a $23.00 price objective on shares of Rivian Automotive in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a "hold" rating and set a $15.00 target price on shares of Rivian Automotive in a research report on Tuesday, March 3rd. Wedbush reiterated an "outperform" rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, February 13th. TD Cowen upgraded Rivian Automotive from a "hold" rating to a "buy" rating and raised their price objective for the company from $17.00 to $20.00 in a research note on Tuesday, March 10th. Finally, DA Davidson upgraded Rivian Automotive from an "underperform" rating to a "neutral" rating and set a $14.00 price objective on the stock in a report on Wednesday, April 1st. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $18.52.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 10,245 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total transaction of $184,410.00. Following the transaction, the chief financial officer owned 946,814 shares of the company's stock, valued at $17,042,652. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 21,446 shares of Rivian Automotive stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $16.17, for a total value of $346,781.82. Following the completion of the transaction, the chief executive officer owned 1,001,138 shares of the company's stock, valued at approximately $16,188,401.46. The trade was a 2.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,888 shares of company stock worth $2,411,276 in the last 90 days. 2.16% of the stock is currently owned by insiders.

Key Rivian Automotive News

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

• Positive Sentiment: Reports that Rivian is developing lower-priced R2 variants suggest a wider addressable market and better sales potential for its next-generation SUV lineup. 1 Surprising Reason Rivian Stock Is a Buy Before the SpaceX IPO
• Positive Sentiment: Uber’s order for 10,000 autonomous vehicles from Rivian reinforces a potential new commercial demand stream and helps validate Rivian’s technology platform. Uber’s Robotaxi And Parking Bets Recast Growth And Risk For Investors
• Neutral Sentiment: Analysts and commentators are also highlighting Rivian as a beneficiary of a possible SpaceX IPO, arguing that a larger EV/tech risk appetite could indirectly help sentiment toward RIVN. Here's Why the SpaceX IPO Makes Rivian Stock a Buy
• Neutral Sentiment: Coverage about high gasoline prices notes that fuel costs likely need to rise further before they materially accelerate EV adoption, which is a broader industry factor rather than a direct Rivian-specific catalyst. How High Gas Prices Need to Rise to Boost Electric Vehicle Sales
• Negative Sentiment: Despite the upbeat R2 news, one report said RIVN is still on track for a third straight week in the red, indicating sentiment remains fragile and investors want proof that the new variants can translate into real demand and better execution. RIVN on track for third straight week in the red despite CEO teasing fresh R2 variants

Rivian Automotive Price Performance

Shares of RIVN stock opened at $14.22 on Monday. The firm has a fifty day moving average of $15.67 and a two-hundred day moving average of $16.25. The firm has a market cap of $17.65 billion, a P/E ratio of -4.87 and a beta of 1.64. Rivian Automotive, Inc. has a 1-year low of $11.57 and a 1-year high of $22.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.54) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.14. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The company's revenue for the quarter was down 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.70) EPS. As a group, research analysts anticipate that Rivian Automotive, Inc. will post -3.1 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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