Morgan Stanley Has $235.41 Million Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Morgan Stanley grew its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,695,576 shares of the electric vehicle automaker's stock after acquiring an additional 1,193,650 shares during the period. Morgan Stanley owned 1.02% of Rivian Automotive worth $235,409,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RIVN. WFA of San Diego LLC purchased a new stake in shares of Rivian Automotive in the second quarter worth $25,000. Sunbelt Securities Inc. increased its stake in shares of Rivian Automotive by 195.0% in the second quarter. Sunbelt Securities Inc. now owns 1,475 shares of the electric vehicle automaker's stock worth $25,000 after purchasing an additional 975 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Rivian Automotive in the third quarter worth $27,000. MCF Advisors LLC increased its stake in shares of Rivian Automotive by 396.8% in the third quarter. MCF Advisors LLC now owns 1,252 shares of the electric vehicle automaker's stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new stake in shares of Rivian Automotive in the fourth quarter worth $30,000. 62.79% of the stock is currently owned by institutional investors.

Rivian Automotive Stock Down 8.7 %

Shares of Rivian Automotive stock traded down $1.02 on Thursday, reaching $10.69. The stock had a trading volume of 59,674,588 shares, compared to its average volume of 44,728,371. The company has a 50 day moving average price of $15.02 and a 200 day moving average price of $18.26. The company has a quick ratio of 3.90, a current ratio of 4.95 and a debt-to-equity ratio of 0.48. Rivian Automotive, Inc. has a 1 year low of $10.05 and a 1 year high of $28.06. The stock has a market capitalization of $10.45 billion, a P/E ratio of -1.86 and a beta of 1.89.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The electric vehicle automaker reported ($1.58) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.67) by $0.09. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Rivian Automotive had a negative net margin of 122.51% and a negative return on equity of 45.97%. As a group, equities research analysts forecast that Rivian Automotive, Inc. will post -4.88 EPS for the current year.

Insiders Place Their Bets

In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the sale, the insider now owns 407,787 shares of the company's stock, valued at approximately $5,223,751.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Rivian Automotive news, insider Kjell Gruner sold 19,935 shares of Rivian Automotive stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.81, for a total transaction of $255,367.35. Following the completion of the sale, the insider now directly owns 407,787 shares in the company, valued at approximately $5,223,751.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jeff Baker sold 31,425 shares of Rivian Automotive stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.18, for a total transaction of $414,181.50. Following the sale, the chief accounting officer now owns 52,415 shares of the company's stock, valued at $690,829.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,306 shares of company stock valued at $717,274. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RIVN. JPMorgan Chase & Co. cut shares of Rivian Automotive from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $20.00 to $11.00 in a research note on Thursday, February 22nd. Morgan Stanley cut their target price on shares of Rivian Automotive from $24.00 to $14.00 and set an "overweight" rating for the company in a research note on Tuesday, February 27th. Mizuho cut their target price on shares of Rivian Automotive from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company cut their target price on shares of Rivian Automotive from $18.00 to $14.00 and set an "equal weight" rating for the company in a research note on Thursday, February 22nd. Finally, Piper Sandler dropped their price objective on shares of Rivian Automotive from $21.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Rivian Automotive presently has a consensus rating of "Hold" and a consensus price target of $20.52.

About Rivian Automotive

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.