American Capital Advisory LLC Acquires 2,111 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

American Capital Advisory LLC boosted its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 267.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,900 shares of the electric vehicle automaker’s stock after purchasing an additional 2,111 shares during the period. American Capital Advisory LLC’s holdings in Rivian Automotive were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have 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 valued at $26,000 after acquiring an additional 831 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Rivian Automotive by 975.4% during 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. GHP Investment Advisors Inc. raised its stake in Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock valued at $29,000 after acquiring an additional 1,002 shares during the period. International Assets Investment Management LLC bought a new stake in Rivian Automotive in the 2nd quarter valued at $37,000. Finally, First Horizon Advisors Inc. lifted its holdings in Rivian Automotive by 30.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after purchasing an additional 670 shares during the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock traded down $0.94 during trading on Wednesday, reaching $9.65. 27,546,397 shares of the company traded hands, compared to its average volume of 38,533,656. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average price of $11.59 and a 200-day moving average price of $12.34. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61.

Rivian Automotive (NASDAQ:RIVN) last issued its earnings results on Tuesday, August 6th. The electric vehicle automaker reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by ($0.14). Rivian Automotive had a negative net margin of 115.50% and a negative return on equity of 65.40%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. On average, analysts anticipate that Rivian Automotive, Inc. will post -4.84 EPS for the current year.

Insider Activity

In related news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the sale, the chief executive officer now owns 886,526 shares of the company’s stock, valued at approximately $12,127,675.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 directly owns 392,662 shares of the company’s stock, valued at $5,328,423.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the transaction, the chief executive officer now owns 886,526 shares in the company, valued at $12,127,675.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 169,876 shares of company stock worth $2,153,551 over the last quarter. 2.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RIVN has been the topic of several research analyst reports. Truist Financial dropped their price objective on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. UBS Group decreased their target price on Rivian Automotive from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $14.00 price target on shares of Rivian Automotive in a report on Tuesday, September 10th. Morgan Stanley downgraded Rivian Automotive from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $16.00 to $13.00 in a report on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.95.

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.