Rivian Automotive, Inc. $RIVN Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. grew its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 163.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,693 shares of the electric vehicle automaker's stock after purchasing an additional 179,913 shares during the period. Baird Financial Group Inc.'s holdings in Rivian Automotive were worth $5,026,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Rivian Automotive by 4.0% in the 1st quarter. Parallel Advisors LLC now owns 16,056 shares of the electric vehicle automaker's stock valued at $242,000 after acquiring an additional 613 shares during the last quarter. Tradition Wealth Management LLC increased its position in Rivian Automotive by 5.7% in the 4th quarter. Tradition Wealth Management LLC now owns 14,056 shares of the electric vehicle automaker's stock valued at $277,000 after acquiring an additional 753 shares during the period. Assenagon Asset Management S.A. raised its stake in Rivian Automotive by 2.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 56,758 shares of the electric vehicle automaker's stock valued at $985,000 after acquiring an additional 1,134 shares in the last quarter. MTM Investment Management LLC raised its stake in Rivian Automotive by 115.0% during the 4th quarter. MTM Investment Management LLC now owns 2,150 shares of the electric vehicle automaker's stock valued at $42,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC boosted its position in Rivian Automotive by 6.5% during the 4th quarter. Grey Fox Wealth Advisors LLC now owns 18,756 shares of the electric vehicle automaker's stock worth $370,000 after acquiring an additional 1,151 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RIVN. Wells Fargo & Company increased their price target on Rivian Automotive from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. BNP Paribas Exane upped their price target on shares of Rivian Automotive from $22.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Weiss Ratings raised Rivian Automotive from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft downgraded Rivian Automotive from a "buy" rating to an "underperform" rating in a research report on Tuesday, August 4th. Finally, UBS Group boosted their price objective on Rivian Automotive from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat.com, Rivian Automotive currently has an average rating of "Hold" and a consensus target price of $19.00.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CFO Claire McDonough sold 8,023 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the transaction, the chief financial officer directly owned 819,178 shares in the company, valued at $13,106,848. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 the business's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the sale, the director directly owned 110,000 shares of the company's stock, valued at $2,200,000. This represents a 15.38% decrease in their position. 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 sold 41,167 shares of company stock valued at $718,956 over the last three months. Insiders own 1.48% of the company's stock.

Rivian Automotive Trading Down 1.1%

Shares of NASDAQ RIVN opened at $15.86 on Tuesday. Rivian Automotive, Inc. has a one year low of $12.39 and a one year high of $22.69. The firm has a market capitalization of $22.96 billion, a PE ratio of -6.15 and a beta of 1.62. 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 business has a 50-day moving average price of $16.31 and a two-hundred day moving average price of $15.91.

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

Rivian Automotive Profile

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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