Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Bought by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. grew its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 149.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,117 shares of the electric vehicle automaker’s stock after purchasing an additional 31,232 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Rivian Automotive were worth $699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC grew its holdings in shares of Rivian Automotive by 74.3% in the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 831 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Rivian Automotive by 975.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 2,380 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Rivian Automotive in the 1st quarter worth approximately $33,000. Fairman Group LLC acquired a new stake in shares of Rivian Automotive in the 4th quarter worth approximately $36,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Rivian Automotive in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 66.25% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 83,333 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the transaction, the chief executive officer now directly owns 886,526 shares of the company’s stock, valued at approximately $10,319,162.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Robert J. Scaringe sold 83,333 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total value of $969,996.12. Following the completion of the sale, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the sale, the chief financial officer now owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 512,734 shares of company stock valued at $8,038,565. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RIVN shares. Truist Financial upped their price target on Rivian Automotive from $13.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on Rivian Automotive from $10.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, June 26th. Wolfe Research began coverage on Rivian Automotive in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Canaccord Genuity Group upped their target price on Rivian Automotive from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Finally, Needham & Company LLC reduced their target price on Rivian Automotive from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.91.

Rivian Automotive Trading Down 3.2 %

Shares of RIVN opened at $10.44 on Friday. The company has a current ratio of 5.25, a quick ratio of 4.01 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $10.53 billion, a P/E ratio of -1.81 and a beta of 2.03. The stock’s fifty day simple moving average is $13.31 and its 200 day simple moving average is $12.29. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.25) by ($0.14). The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Rivian Automotive had a negative return on equity of 65.40% and a negative net margin of 115.50%. On average, equities research analysts forecast that Rivian Automotive, Inc. will post -4.92 earnings per share for the current year.

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.