XTX Topco Ltd purchased a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 96,353 shares of the electric vehicle automaker's stock, valued at approximately $1,324,000.
A number of other hedge funds have also modified their holdings of the stock. Assetmark Inc. lifted its holdings in shares of Rivian Automotive by 315.6% during the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker's stock valued at $25,000 after buying an additional 1,357 shares during the last quarter. Banque Transatlantique SA lifted its stake in shares of Rivian Automotive by 13,194.1% in the 1st quarter. Banque Transatlantique SA now owns 2,260 shares of the electric vehicle automaker's stock valued at $26,000 after purchasing an additional 2,243 shares during the last quarter. Fairman Group LLC bought a new stake in Rivian Automotive in the second quarter worth $31,000. WPG Advisers LLC acquired a new position in Rivian Automotive during the first quarter worth $34,000. Finally, PFS Partners LLC raised its holdings in Rivian Automotive by 50.5% during the second quarter. PFS Partners LLC now owns 2,982 shares of the electric vehicle automaker's stock valued at $41,000 after buying an additional 1,000 shares in the last quarter. 66.25% of the stock is owned by institutional investors and hedge funds.
Rivian Automotive Stock Performance
RIVN stock opened at $16.88 on Friday. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87. The firm has a market cap of $20.69 billion, a PE ratio of -5.43 and a beta of 1.81. Rivian Automotive, Inc. has a 1-year low of $10.36 and a 1-year high of $18.13. The business's 50-day moving average price is $14.45 and its two-hundred day moving average price is $13.94.
Analyst Upgrades and Downgrades
RIVN has been the subject of a number of recent analyst reports. Mizuho reaffirmed an "underperform" rating and set a $10.00 target price (down previously from $14.00) on shares of Rivian Automotive in a research report on Monday, October 20th. Stifel Nicolaus lifted their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, November 17th. Tigress Financial upped their price target on shares of Rivian Automotive from $21.00 to $25.00 and gave the company a "buy" rating in a report on Friday, November 14th. JPMorgan Chase & Co. lifted their price objective on Rivian Automotive from $9.00 to $10.00 and gave the stock an "underweight" rating in a research note on Monday, October 20th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $21.00 price objective on shares of Rivian Automotive in a research report on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, Rivian Automotive currently has an average rating of "Hold" and a consensus target price of $14.34.
Get Our Latest Research Report on Rivian Automotive
Insider Activity at Rivian Automotive
In related news, CEO Robert J. Scaringe sold 52,350 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total transaction of $869,010.00. Following the sale, the chief executive officer owned 1,246,405 shares in the company, valued at approximately $20,690,323. This trade represents a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 104,700 shares of company stock valued at $1,621,280 in the last quarter. 2.16% of the stock is currently owned by company insiders.
Rivian Automotive Company Profile
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Free Report)
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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