Rivian Automotive, Inc. $RIVN Shares Acquired by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Rivian Automotive, buying an additional 57,500 shares, raising their total holdings by 24.3% to 293,800 shares valued at approximately $4 million.
• Rivian reported a loss of ($0.97) earnings per share for the last quarter, missing analysts' expectations and demonstrating a negative net margin of 68.06%.
• Wall Street analysts are divided on Rivian's stock, with a consensus rating of "Hold" and a price target averaging $13.67, while some analysts have lowered their price targets significantly.

Mn Services Vermogensbeheer B.V. grew its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 24.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,800 shares of the electric vehicle automaker's stock after buying an additional 57,500 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Rivian Automotive were worth $4,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RIVN. Brighton Jones LLC grew its holdings in shares of Rivian Automotive by 28.0% in the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock valued at $235,000 after purchasing an additional 3,864 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Rivian Automotive by 146.4% during the fourth quarter. Quantinno Capital Management LP now owns 40,197 shares of the electric vehicle automaker's stock worth $535,000 after buying an additional 23,886 shares during the period. Parr Mcknight Wealth Management Group LLC purchased a new position in Rivian Automotive during the fourth quarter worth $206,000. Gould Capital LLC boosted its stake in Rivian Automotive by 87.6% during the fourth quarter. Gould Capital LLC now owns 7,025 shares of the electric vehicle automaker's stock worth $93,000 after buying an additional 3,280 shares during the period. Finally, Siemens Fonds Invest GmbH purchased a new position in Rivian Automotive during the fourth quarter worth $145,000. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 17,450 shares of the firm's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $14.00, for a total transaction of $244,300.00. Following the completion of the transaction, the chief executive officer directly owned 1,316,205 shares in the company, valued at $18,426,870. This trade represents a 1.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 7,247 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the transaction, the chief financial officer owned 789,445 shares of the company's stock, valued at $9,694,384.60. This trade represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,147 shares of company stock valued at $577,593 over the last 90 days. 2.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Mizuho lifted their price objective on shares of Rivian Automotive from $12.00 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wall Street Zen downgraded Rivian Automotive from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of Rivian Automotive in a report on Monday, August 25th. Morgan Stanley dropped their target price on 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. Finally, Wedbush dropped their target price on Rivian Automotive from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $13.72.

Rivian Automotive Trading Up 0.9%

Shares of RIVN traded up $0.14 during midday trading on Tuesday, reaching $15.38. The company had a trading volume of 29,128,564 shares, compared to its average volume of 35,773,031. Rivian Automotive, Inc. has a 1-year low of $9.50 and a 1-year high of $17.15. The stock has a market cap of $18.67 billion, a PE ratio of -4.75 and a beta of 1.81. The firm has a 50 day simple moving average of $13.22 and a 200-day simple moving average of $13.15. 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 (NASDAQ:RIVN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share (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 was up 12.5% compared to the same quarter last year. During the same period last year, the business earned ($1.46) earnings per share. Research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS 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.