NewEdge Advisors LLC Sells 94,290 Shares of Rivian Automotive, Inc. $RIVN

Key Points

• NewEdge Advisors cut its Rivian stake by 72.6% in the second quarter, selling 94,290 shares and retaining 35,553 shares worth approximately $617,000. Institutional investors collectively own 66.25% of Rivian.
• Analyst sentiment is mixed but improving: several firms raised price targets, while Rivian’s consensus rating remains “Hold” with an average target of $19.00. The company recently beat quarterly revenue and earnings expectations, though it remains unprofitable.
• Rivian recalled nearly 98,828 vehicles over a rearview-camera display issue, creating potential cost and reputational risks. Company insiders have also sold 56,167 shares worth $963,306 over the last quarter.

NewEdge Advisors LLC lessened its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 72.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,553 shares of the electric vehicle automaker's stock after selling 94,290 shares during the period. NewEdge Advisors LLC's holdings in Rivian Automotive were worth $617,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RIVN. Norges Bank acquired a new position in Rivian Automotive in the fourth quarter worth $220,323,000. Bank of New York Mellon Corp bought a new position in shares of Rivian Automotive in the 2nd quarter worth about $49,915,000. Capital International Investors lifted its position in shares of Rivian Automotive by 13.2% in the 4th quarter. Capital International Investors now owns 20,769,844 shares of the electric vehicle automaker's stock worth $409,374,000 after buying an additional 2,418,717 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Rivian Automotive in the 4th quarter valued at about $24,263,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Rivian Automotive by 55.8% in the 1st quarter. Hsbc Holdings PLC now owns 3,097,836 shares of the electric vehicle automaker's stock valued at $46,625,000 after buying an additional 1,109,171 shares during the period. Institutional investors and hedge funds own 66.25% of the company's stock.

More Rivian Automotive News

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

• Positive Sentiment: Analyst commentary presented Rivian as a potentially undervalued EV investment compared with Tesla and the broader S&P 500. Investors appear to be focusing on Rivian’s growth potential through 2030, although the company still needs to demonstrate stronger execution and profitability. Rivian vs. the S&P 500: Which Investment Wins Through 2030?
• Positive Sentiment: RIVN gained even as the overall market weakened, suggesting company-specific buying interest. Comparisons with Tesla also highlight Rivian’s much smaller valuation and potential for substantial growth if it successfully expands production and launches additional models. Tesla (TSLA) vs Rivian (RIVN): Which is a Better EV Stock to Buy
• Neutral Sentiment: A report showed an apparent September short-interest figure of zero shares and a zero-day days-to-cover ratio. If accurate, this suggests limited measurable short-covering potential; however, the figure may reflect incomplete or anomalous data rather than a fundamental change in investor positioning.
• Negative Sentiment: Rivian is recalling 98,828 U.S. vehicles, including R2, R1S and R1T models, because a rearview-camera display issue could obstruct the driver’s view behind the vehicle. The recall could increase costs, create reputational damage and raise concerns about quality control. Rivian recalls nearly 99,000 vehicles over rearview camera display issue

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Rivian Automotive from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. Royal Bank Of Canada lifted their target price on Rivian Automotive from $14.00 to $16.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Piper Sandler raised Rivian Automotive from a "neutral" rating to an "overweight" rating and upped their target price for the company from $18.00 to $20.00 in a report on Monday, July 27th. TD Cowen increased their price target on Rivian Automotive from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, BNP Paribas Exane boosted their price objective on Rivian Automotive from $22.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.00.

Rivian Automotive Price Performance

NASDAQ RIVN opened at $15.29 on Friday. Rivian Automotive, Inc. has a 52 week low of $12.39 and a 52 week high of $22.69. The company has a current ratio of 2.10, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The stock has a market cap of $22.14 billion, a price-to-earnings ratio of -5.93 and a beta of 1.62. The company has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $15.91.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share for the quarter, beating analysts' consensus estimates of ($0.66) by $0.03. Rivian Automotive had a negative return on equity of 73.90% and a negative net margin of 54.96%.The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the company posted ($0.97) earnings per share. The business's revenue for the quarter was up 27.2% compared to the same quarter last year. Analysts forecast that Rivian Automotive, Inc. will post -2.98 EPS for the current year.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire McDonough sold 8,023 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.00, for a total value of $128,368.00. Following the completion of the transaction, the chief financial officer owned 819,178 shares of the company's stock, valued at approximately $13,106,848. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Boone sold 20,000 shares of the firm's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the director directly owned 110,000 shares in the company, valued at $2,200,000. This trade represents 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. Insiders have sold 56,167 shares of company stock valued at $963,306 in the last quarter. Corporate insiders own 1.48% of the company's stock.

About Rivian Automotive

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer vehicle lineup includes the R1T electric pickup truck and R1S electric SUV, which are designed for on-road and off-road use. The company also develops charging solutions, vehicle software and connected services intended to support the ownership and operation of its electric vehicles.

Rivian produces electric commercial vans for delivery and fleet applications, including vehicles developed through its relationship with Amazon.

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