D1 Capital Partners L.P. Has $1.36 Million Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

D1 Capital Partners L.P. cut its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 98.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,056 shares of the electric vehicle automaker’s stock after selling 5,765,258 shares during the period. D1 Capital Partners L.P.’s holdings in Rivian Automotive were worth $1,356,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in Rivian Automotive by 1.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock worth $492,000 after purchasing an additional 604 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Rivian Automotive by 30.7% in the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after buying an additional 670 shares during the period. Laidlaw Wealth Management LLC raised its holdings in Rivian Automotive by 7.5% in the 4th quarter. Laidlaw Wealth Management LLC now owns 10,263 shares of the electric vehicle automaker’s stock valued at $241,000 after buying an additional 718 shares during the last quarter. GAMMA Investing LLC boosted its position in Rivian Automotive by 28.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,470 shares of the electric vehicle automaker’s stock worth $47,000 after buying an additional 760 shares during the period. Finally, Certuity LLC boosted its position in Rivian Automotive by 8.1% during the 2nd quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after buying an additional 815 shares during the period. 66.25% of the stock is currently owned by institutional investors.

Rivian Automotive Stock Performance

Shares of Rivian Automotive stock opened at $11.71 on Monday. The business has a 50-day simple moving average of $14.48 and a 200 day simple moving average of $12.35. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of -2.03 and a beta of 2.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.25 and a quick ratio of 4.01. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $24.87.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate 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, research analysts anticipate that Rivian Automotive, Inc. will post -4.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 3,210 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the completion of the sale, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares of the company’s stock, valued at $5,328,423.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Scaringe sold 200,000 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the sale, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $16,374,438. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,830 shares of company stock valued at $7,872,145. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. Wolfe Research started coverage on Rivian Automotive in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of Rivian Automotive in a research note on Monday, September 16th. Mizuho upped their target price on Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Finally, Needham & Company LLC lowered their price target on shares of Rivian Automotive from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.09.

Rivian Automotive 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.