Rivian Automotive, Inc. $RIVN Shares Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its Rivian stake by 5.2% in the fourth quarter, adding 224,435 shares and bringing its holdings to 4.54 million shares worth about $89.4 million.
• Several large institutions also raised exposure to Rivian, and 66.25% of the stock is owned by institutional investors and hedge funds, showing continued professional interest in the EV maker.
• Rivian shares have been supported by optimism around the upcoming R2 launch and software growth, but the stock is facing pressure from a NHTSA probe into nearly 115,000 vehicles over a possible rear toe link defect.

Legal & General Group Plc lifted its stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,536,169 shares of the electric vehicle automaker's stock after acquiring an additional 224,435 shares during the period. Legal & General Group Plc owned 0.37% of Rivian Automotive worth $89,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in RIVN. Vanguard Group Inc. lifted its stake in shares of Rivian Automotive by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker's stock worth $1,198,967,000 after acquiring an additional 2,597,310 shares during the period. Capital International Investors lifted its stake in shares of Rivian Automotive by 13.4% in the 3rd quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker's stock worth $269,395,000 after acquiring an additional 2,161,394 shares during the period. AQR Capital Management LLC lifted its stake in shares of Rivian Automotive by 496.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker's stock worth $31,490,000 after acquiring an additional 1,918,852 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in shares of Rivian Automotive by 1,353.6% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker's stock worth $28,281,000 after acquiring an additional 1,916,686 shares during the period. Finally, Ossiam acquired a new stake in shares of Rivian Automotive in the 3rd quarter worth approximately $17,498,000. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Robert J. Scaringe sold 34,818 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the sale, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 5,544 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $13.43, for a total transaction of $74,455.92. Following the sale, the chief financial officer owned 902,630 shares in the company, valued at $12,122,320.90. This represents a 0.61% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 127,217 shares of company stock worth $1,965,848 in the last 90 days. 2.16% of the stock is owned by company insiders.

Key Headlines Impacting Rivian Automotive

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

• Positive Sentiment: Investors are focusing on Rivian’s growth story, including the upcoming R2 launch and expectations that software-related revenue could become a bigger driver as the company expands beyond its current lineup. Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
• Positive Sentiment: Rivian’s stock is also benefiting from improved sentiment across EV names and trader interest, which has helped push shares higher despite technical warning signs. Rivian Stock Climbs Friday: What's Driving The Move?
• Neutral Sentiment: Rivian remains a trending stock, suggesting elevated investor attention and the potential for continued volatility as traders reassess the company’s outlook. Rivian Automotive, Inc. (RIVN) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag is a new NHTSA investigation into 114,922 R1S and R1T vehicles over a possible rear toe link defect, raising recall, repair, and reputational risk. US auto safety regulator opens probe into nearly 115,000 Rivian vehicles
• Negative Sentiment: Follow-up reports say the probe stems from rear suspension failures that may have caused vehicles to swerve, which could increase scrutiny and pressure on the stock if the issue widens. Rivian under investigation over rear suspension failures on R1 models

Rivian Automotive Stock Up 7.2%

RIVN stock opened at $16.30 on Friday. Rivian Automotive, Inc. has a 52-week low of $11.57 and a 52-week high of $22.69. The company's 50 day simple moving average is $15.28 and its 200-day simple moving average is $16.30. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. The firm has a market capitalization of $20.23 billion, a P/E ratio of -5.58 and a beta of 1.64.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Rivian Automotive in a research note on Friday, February 13th. Weiss Ratings lowered shares of Rivian Automotive from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. DA Davidson boosted their target price on shares of Rivian Automotive from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Needham & Company LLC reiterated a "buy" rating and issued a $23.00 target price on shares of Rivian Automotive in a report on Friday, May 1st. Finally, Piper Sandler dropped their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, Rivian Automotive presently has a consensus rating of "Hold" and an average target price of $18.57.

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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