Swedbank AB Buys 74,322 Shares of 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 holding to 941,304 shares worth about $18.6 million.
• Rivian’s latest earnings beat expectations, reporting a smaller-than-expected loss of $0.54 per share and revenue of $1.29 billion, though revenue still declined 25.8% year over year and profitability remained deeply negative.
• Wall Street remains cautious overall: analysts currently rate Rivian a consensus “Hold,” with a $18.52 average price target, even as some firms recently raised targets and maintained bullish ratings.

Swedbank AB raised its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 941,304 shares of the electric vehicle automaker's stock after purchasing an additional 74,322 shares during the period. Swedbank AB owned 0.08% of Rivian Automotive worth $18,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RIVN. Brighton Jones LLC boosted its holdings in shares of Rivian Automotive by 28.0% during the 4th quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock valued at $235,000 after purchasing an additional 3,864 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Rivian Automotive by 1.5% during the 1st quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker's stock valued at $4,733,000 after purchasing an additional 5,590 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Rivian Automotive by 10.1% during the 1st quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker's stock valued at $679,000 after purchasing an additional 4,998 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Rivian Automotive by 29.0% during the 1st quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker's stock valued at $803,000 after purchasing an additional 14,497 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Rivian Automotive by 57.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker's stock valued at $64,000 after purchasing an additional 1,856 shares during the last quarter. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Performance

Rivian Automotive stock opened at $14.22 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. Rivian Automotive, Inc. has a 1-year low of $11.57 and a 1-year high of $22.69. The firm has a market capitalization of $17.65 billion, a P/E ratio of -4.87 and a beta of 1.64. The company's 50-day moving average is $15.67 and its 200 day moving average is $16.25.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The electric vehicle automaker reported ($0.54) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.14. Rivian Automotive had a negative net margin of 63.62% and a negative return on equity of 75.65%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted ($0.70) EPS. The firm's revenue for the quarter was down 25.8% on a year-over-year basis. Research analysts forecast that Rivian Automotive, Inc. will post -3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RIVN. Wells Fargo & Company increased their price target on shares of Rivian Automotive from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Friday, February 13th. Weiss Ratings downgraded shares of Rivian Automotive from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday. Tigress Financial reaffirmed a "buy" rating and issued a $25.00 price target on shares of Rivian Automotive in a report on Friday, April 10th. Stifel Nicolaus increased their price target on shares of Rivian Automotive from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Finally, Leerink Partners reaffirmed an "outperform" rating on shares of Rivian Automotive in a report on Thursday, March 12th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $18.52.

Trending Headlines about Rivian Automotive

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

• Positive Sentiment: Reports that Rivian is developing lower-priced R2 variants suggest a wider addressable market and better sales potential for its next-generation SUV lineup. 1 Surprising Reason Rivian Stock Is a Buy Before the SpaceX IPO
• Positive Sentiment: Uber’s order for 10,000 autonomous vehicles from Rivian reinforces a potential new commercial demand stream and helps validate Rivian’s technology platform. Uber’s Robotaxi And Parking Bets Recast Growth And Risk For Investors
• Neutral Sentiment: Analysts and commentators are also highlighting Rivian as a beneficiary of a possible SpaceX IPO, arguing that a larger EV/tech risk appetite could indirectly help sentiment toward RIVN. Here's Why the SpaceX IPO Makes Rivian Stock a Buy
• Neutral Sentiment: Coverage about high gasoline prices notes that fuel costs likely need to rise further before they materially accelerate EV adoption, which is a broader industry factor rather than a direct Rivian-specific catalyst. How High Gas Prices Need to Rise to Boost Electric Vehicle Sales
• Negative Sentiment: Despite the upbeat R2 news, one report said RIVN is still on track for a third straight week in the red, indicating sentiment remains fragile and investors want proof that the new variants can translate into real demand and better execution. RIVN on track for third straight week in the red despite CEO teasing fresh R2 variants

Insider Transactions at Rivian Automotive

In related news, CEO Robert J. Scaringe sold 21,446 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $16.17, for a total value of $346,781.82. Following the sale, the chief executive officer directly owned 1,001,138 shares of the company's stock, valued at $16,188,401.46. This represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total transaction of $184,410.00. Following the completion of the sale, the chief financial officer directly owned 946,814 shares in the company, valued at $17,042,652. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 148,888 shares of company stock worth $2,411,276 over the last three months. 2.16% of the stock is currently owned by corporate insiders.

Rivian Automotive Company 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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