Aberdeen Group plc Decreases Position in Rivian Automotive, Inc. $RIVN

Key Points

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Aberdeen Group plc reduced its position in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 54.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,521,586 shares of the electric vehicle automaker's stock after selling 1,809,994 shares during the quarter. Aberdeen Group plc owned approximately 0.13% of Rivian Automotive worth $18,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in RIVN. PFS Partners LLC boosted its stake in Rivian Automotive by 1,882.0% during the first quarter. PFS Partners LLC now owns 1,982 shares of the electric vehicle automaker's stock valued at $25,000 after buying an additional 1,882 shares during the period. Orion Capital Management LLC purchased a new stake in Rivian Automotive during the fourth quarter valued at about $34,000. Quarry LP purchased a new stake in Rivian Automotive during the fourth quarter valued at about $38,000. Olde Wealth Management LLC purchased a new stake in Rivian Automotive during the first quarter valued at about $37,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Rivian Automotive by 107.9% in the first quarter. Golden State Wealth Management LLC now owns 3,302 shares of the electric vehicle automaker's stock worth $41,000 after buying an additional 1,714 shares during the period. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Price Performance

Shares of RIVN traded down $0.1250 during mid-day trading on Thursday, hitting $11.9450. 16,246,996 shares of the company were exchanged, compared to its average volume of 33,257,840. Rivian Automotive, Inc. has a 1-year low of $9.50 and a 1-year high of $17.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.72 and a current ratio of 3.44. The company has a 50 day moving average of $13.05 and a 200-day moving average of $12.94. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of -3.70 and a beta of 1.80.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.32). The company had revenue of $1.30 billion for 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 for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.46) EPS. Analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on RIVN. Jefferies Financial Group reiterated a "hold" rating and issued a $16.00 price objective on shares of Rivian Automotive in a report on Wednesday, May 14th. Stifel Nicolaus reduced their price target on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Guggenheim downgraded Rivian Automotive from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Needham & Company LLC reduced their price target on Rivian Automotive from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Morgan Stanley cut their price objective 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. Five investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.69.

Insider Buying and Selling

In other news, CFO Claire Mcdonough sold 7,247 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $12.28, for a total value of $88,993.16. Following the completion of the sale, the chief financial officer owned 789,445 shares of the company's stock, valued at $9,694,384.60. This represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.16% of the company's stock.

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.