Swedbank AB Boosts Stake in Rivian Automotive, Inc. $RIVN

Key Points

• Swedbank AB increased its Rivian stake by 8.6% in the fourth quarter, buying 74,322 additional shares and bringing its total to 941,304 shares valued at about $18.6 million.
• Institutional ownership of Rivian remains high, with hedge funds and other investors holding 66.25% of the company; several large funds, including Vanguard and Capital International Investors, also expanded their positions.
• Analysts are mixed but generally cautious on Rivian, with an average rating of “Hold” and an average price target of $18.57, even as some firms recently raised targets or reiterated buy/outperform ratings.

Swedbank AB grew its stake in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 941,304 shares of the electric vehicle automaker's stock after buying an additional 74,322 shares during the period. Swedbank AB owned 0.08% of Rivian Automotive worth $18,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RIVN. Vanguard Group Inc. raised its holdings in shares of Rivian Automotive by 3.3% in the third quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker's stock worth $1,198,967,000 after buying an additional 2,597,310 shares during the last quarter. Capital International Investors raised its holdings in shares of Rivian Automotive by 13.4% in the third quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker's stock worth $269,395,000 after buying an additional 2,161,394 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Rivian Automotive by 496.6% in the second quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker's stock worth $31,490,000 after buying an additional 1,918,852 shares during the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Rivian Automotive by 1,353.6% in the second quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker's stock worth $28,281,000 after buying an additional 1,916,686 shares during the last quarter. Finally, Ossiam purchased a new position in shares of Rivian Automotive in the third quarter worth $17,498,000. Hedge funds and other institutional investors own 66.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $23.00 target price on shares of Rivian Automotive in a report on Friday, May 1st. Cantor Fitzgerald raised their target price on shares of Rivian Automotive from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Wall Street Zen raised shares of Rivian Automotive from a "strong sell" rating to a "sell" rating in a report on Sunday, May 10th. Deutsche Bank Aktiengesellschaft raised shares of Rivian Automotive from a "hold" rating to a "buy" rating and raised their target price for the stock from $16.00 to $23.00 in a report on Friday, February 13th. Finally, Wedbush reissued an "outperform" rating and set a $25.00 target price on shares of Rivian Automotive in a report on Friday, February 13th. Twelve investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $18.57.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $14.22 on Tuesday. The stock has a market cap of $17.65 billion, a PE ratio of -4.87 and a beta of 1.64. 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 fifty day moving average price of $15.30 and a 200 day moving average price of $16.31. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69.

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 5,544 shares of the firm's stock in a transaction 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 approximately $12,122,320.90. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, CEO Robert J. Scaringe sold 21,446 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $16.17, for a total transaction of $346,781.82. Following the sale, the chief executive officer owned 1,001,138 shares in the company, valued at approximately $16,188,401.46. This represents a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 92,399 shares of company stock worth $1,443,578. 2.16% of the stock is owned by company insiders.

About Rivian Automotive

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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