Vontobel Holding Ltd. Buys 113,046 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

Vontobel Holding Ltd. lifted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 251.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 157,974 shares of the electric vehicle automaker's stock after buying an additional 113,046 shares during the quarter. Vontobel Holding Ltd.'s holdings in Rivian Automotive were worth $1,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Rivian Automotive by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,741,001 shares of the electric vehicle automaker's stock worth $63,055,000 after buying an additional 133,781 shares during the period. Twinbeech Capital LP purchased a new stake in shares of Rivian Automotive in the fourth quarter worth approximately $29,944,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Rivian Automotive in the fourth quarter worth approximately $1,363,000. Groupama Asset Managment purchased a new stake in shares of Rivian Automotive in the fourth quarter worth approximately $26,600,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Rivian Automotive in the fourth quarter worth approximately $10,448,000. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 17,185 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.39, for a total value of $264,477.15. Following the completion of the sale, the chief financial officer owned 824,875 shares of the company's stock, valued at $12,694,826.25. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 71,428 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.36, for a total value of $1,097,134.08. Following the completion of the sale, the chief executive officer directly owned 1,483,111 shares of the company's stock, valued at $22,780,584.96. The trade was a 4.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,836 shares of company stock valued at $4,357,459 in the last three months. Insiders own 2.16% of the company's stock.

Rivian Automotive Stock Up 1.7%

Rivian Automotive stock opened at $13.09 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.73 and a quick ratio of 2.80. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of -3.52 and a beta of 1.81. Rivian Automotive, Inc. has a 1-year low of $9.50 and a 1-year high of $18.86. The business has a fifty day moving average price of $14.23 and a 200-day moving average price of $13.13.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The electric vehicle automaker reported ($0.57) earnings per share for the quarter, topping analysts' consensus estimates of ($0.80) by $0.23. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $981.52 million. Rivian Automotive had a negative return on equity of 60.64% and a negative net margin of 76.83%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.48) EPS. Equities research analysts forecast that Rivian Automotive, Inc. will post -3.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RIVN. Mizuho increased their price target on Rivian Automotive from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Benchmark restated a "buy" rating and set a $18.00 price objective on shares of Rivian Automotive in a report on Tuesday, March 18th. Wells Fargo & Company reduced their price objective on Rivian Automotive from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded Rivian Automotive from a "sell" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, UBS Group raised their price objective on Rivian Automotive from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.38.

Rivian Automotive Company 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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