Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by Krane Funds Advisors LLC

Krane Funds Advisors LLC lifted its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 219,414 shares of the electric vehicle automaker’s stock after buying an additional 2,367 shares during the period. Rivian Automotive accounts for approximately 0.2% of Krane Funds Advisors LLC’s holdings, making the stock its 18th biggest position. Krane Funds Advisors LLC’s holdings in Rivian Automotive were worth $5,147,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Stifel Financial Corp grew its position in shares of Rivian Automotive by 7.3% during the third quarter. Stifel Financial Corp now owns 288,191 shares of the electric vehicle automaker’s stock worth $6,997,000 after acquiring an additional 19,699 shares during the last quarter. CenterBook Partners LP bought a new position in Rivian Automotive in the 3rd quarter worth about $4,473,000. Morgan Stanley increased its stake in shares of Rivian Automotive by 14.0% in the third quarter. Morgan Stanley now owns 9,695,576 shares of the electric vehicle automaker’s stock valued at $235,409,000 after purchasing an additional 1,193,650 shares during the period. Aigen Investment Management LP bought a new stake in shares of Rivian Automotive during the third quarter valued at approximately $1,806,000. Finally, Trust Point Inc. bought a new stake in shares of Rivian Automotive during the fourth quarter valued at approximately $246,000. Institutional investors own 66.25% of the company’s stock.

Insider Activity

In related news, CEO Robert J. Scaringe sold 71,429 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.49, for a total value of $820,719.21. Following the completion of the sale, the chief executive officer now directly owns 909,691 shares of the company’s stock, valued at approximately $10,452,349.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Rivian Automotive Trading Down 2.1 %

Shares of Rivian Automotive stock traded down $0.23 during trading on Friday, hitting $10.88. The stock had a trading volume of 21,323,744 shares, compared to its average volume of 27,336,474. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $28.06. The stock has a 50 day simple moving average of $10.16 and a 200 day simple moving average of $13.92. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $10.83 billion, a PE ratio of -1.89 and a beta of 2.01.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. On average, research analysts expect that Rivian Automotive, Inc. will post -4.96 EPS for the current fiscal year.

Analysts Set New Price Targets

RIVN has been the topic of several analyst reports. Cantor Fitzgerald lowered their target price on Rivian Automotive from $23.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company cut their price objective on shares of Rivian Automotive from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. Stifel Nicolaus decreased their target price on shares of Rivian Automotive from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of Rivian Automotive in a research note on Wednesday, May 8th. Finally, Piper Sandler raised shares of Rivian Automotive from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $15.00 to $21.00 in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rivian Automotive presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

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.