UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Reduces Holdings in Rivian Automotive, Inc. $RIVN

Key Points

• UBS Asset Management reduced its holdings in Rivian Automotive by 16.3%, now owning 19,851,236 shares valued at approximately $247.1 million.
• Other institutional investors also altered their positions, with Brighton Jones LLC increasing their stake by 28% and Triumph Capital Management boosting theirs by 55.8% in the fourth quarter.
• Rivian reported a loss per share of ($0.97) for the last quarter, missing analyst estimates, despite a revenue increase of 12.5% year-over-year.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,851,236 shares of the electric vehicle automaker's stock after selling 3,861,281 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.76% of Rivian Automotive worth $247,148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIVN. Brighton Jones LLC increased its holdings in Rivian Automotive by 28.0% in the 4th quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker's stock worth $235,000 after acquiring an additional 3,864 shares in the last quarter. Triumph Capital Management increased its holdings in Rivian Automotive by 55.8% in the 4th quarter. Triumph Capital Management now owns 57,684 shares of the electric vehicle automaker's stock worth $767,000 after acquiring an additional 20,651 shares in the last quarter. Ethic Inc. boosted its stake in Rivian Automotive by 122.3% in the 4th quarter. Ethic Inc. now owns 39,222 shares of the electric vehicle automaker's stock worth $522,000 after purchasing an additional 21,580 shares during the period. Ensign Peak Advisors Inc raised its position in shares of Rivian Automotive by 6.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 340,039 shares of the electric vehicle automaker's stock valued at $4,523,000 after buying an additional 19,190 shares during the last quarter. Finally, Focus Partners Wealth raised its position in shares of Rivian Automotive by 88.9% during the fourth quarter. Focus Partners Wealth now owns 50,037 shares of the electric vehicle automaker's stock valued at $680,000 after buying an additional 23,553 shares during the last quarter. 66.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $13.97 on Friday. The company has a market capitalization of $16.95 billion, a PE ratio of -4.33 and a beta of 1.81. 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 simple moving average of $13.05 and a two-hundred day simple moving average of $12.99. Rivian Automotive, Inc. has a one year low of $9.50 and a one year high of $17.15.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The electric vehicle automaker reported ($0.97) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.32). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rivian Automotive had a negative return on equity of 58.07% and a negative net margin of 68.06%.The business's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.46) earnings per share. Research analysts expect that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RIVN shares. Stifel Nicolaus reduced their price objective on shares of Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Morgan Stanley lowered their target price on Rivian Automotive from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Guggenheim lowered shares of Rivian Automotive from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Mizuho lifted their price objective on shares of Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. decreased their target price on Rivian Automotive from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $13.67.

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.

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