abrdn plc increased its position in Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) by 34.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 497,347 shares of the electric vehicle automaker’s stock after purchasing an additional 128,722 shares during the quarter. abrdn plc owned approximately 0.05% of Rivian Automotive worth $7,699,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in RIVN. Moneta Group Investment Advisors LLC purchased a new position in shares of Rivian Automotive in the 4th quarter valued at approximately $228,175,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rivian Automotive by 20,951.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,359,628 shares of the electric vehicle automaker’s stock valued at $117,208,000 after purchasing an additional 6,329,418 shares during the period. State Street Corp lifted its stake in shares of Rivian Automotive by 145.5% in the 3rd quarter. State Street Corp now owns 9,064,249 shares of the electric vehicle automaker’s stock valued at $298,304,000 after purchasing an additional 5,371,852 shares during the period. Norges Bank bought a new position in Rivian Automotive during the 4th quarter valued at approximately $85,590,000. Finally, Alyeska Investment Group L.P. increased its position in Rivian Automotive by 258.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,165,905 shares of the electric vehicle automaker’s stock valued at $21,488,000 after buying an additional 840,905 shares in the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.
Insider Activity at Rivian Automotive
In related news, CAO Jeff Baker sold 30,798 shares of Rivian Automotive stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $14.70, for a total transaction of $452,730.60. Following the transaction, the chief accounting officer now directly owns 106,204 shares in the company, valued at $1,561,198.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Claire Mcdonough sold 3,625 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $13.71, for a total value of $49,698.75. Following the transaction, the chief financial officer now directly owns 72,304 shares in the company, valued at $991,287.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeff Baker sold 30,798 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $14.70, for a total value of $452,730.60. Following the completion of the transaction, the chief accounting officer now owns 106,204 shares in the company, valued at $1,561,198.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,423 shares of company stock worth $793,029. Corporate insiders own 2.30% of the company’s stock.
Analysts Set New Price Targets
Rivian Automotive Stock Performance
Shares of RIVN opened at $25.27 on Friday. The company has a quick ratio of 5.08, a current ratio of 5.88 and a debt-to-equity ratio of 0.21. Rivian Automotive, Inc. has a one year low of $11.68 and a one year high of $40.86. The business has a fifty day moving average of $17.25 and a 200 day moving average of $16.32.
Rivian Automotive (NASDAQ:RIVN – Get Free Report) last issued its quarterly earnings data on Tuesday, May 9th. The electric vehicle automaker reported ($1.25) EPS for the quarter, topping the consensus estimate of ($1.51) by $0.26. The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $661.97 million. Rivian Automotive had a negative return on equity of 40.23% and a negative net margin of 292.63%. Rivian Automotive’s revenue was up 595.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.43) earnings per share. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -5.39 earnings per share for the current fiscal year.
About Rivian Automotive
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles. It provides Rivian Commercial Vehicle platform for Electric Delivery Van with collaboration with Amazon.com, Inc The company sells its products directly to customers in the consumer and commercial markets.
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