Eurizon Capital SGR S.p.A. Takes $4.90 Million Position in Rivian Automotive, Inc. $RIVN

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 249,141 shares of the electric vehicle automaker’s stock, valued at approximately $4,895,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RIVN. Vanguard Group Inc. grew its holdings in shares of Rivian Automotive by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 81,673,512 shares of the electric vehicle automaker’s stock valued at $1,198,967,000 after purchasing an additional 2,597,310 shares during the last quarter. Capital International Investors grew its holdings in shares of Rivian Automotive by 13.4% during the 3rd quarter. Capital International Investors now owns 18,351,127 shares of the electric vehicle automaker’s stock valued at $269,395,000 after purchasing an additional 2,161,394 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Rivian Automotive by 496.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,305,236 shares of the electric vehicle automaker’s stock valued at $31,490,000 after purchasing an additional 1,918,852 shares during the last quarter. Worldquant Millennium Advisors LLC grew its holdings in shares of Rivian Automotive by 1,353.6% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 2,058,284 shares of the electric vehicle automaker’s stock valued at $28,281,000 after purchasing an additional 1,916,686 shares during the last quarter. Finally, Ossiam bought a new position in shares of Rivian Automotive during the 3rd quarter valued at $17,498,000. Institutional investors own 66.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. TD Cowen raised shares of Rivian Automotive from a “hold” rating to a “buy” rating and increased their target price for the company from $17.00 to $20.00 in a report on Tuesday, March 10th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $22.00 target price (down from $23.00) on shares of Rivian Automotive in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $15.00 target price on shares of Rivian Automotive in a report on Tuesday, March 3rd. Cantor Fitzgerald increased their target price on shares of Rivian Automotive from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Rivian Automotive from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.57.

Rivian Automotive Price Performance

Shares of Rivian Automotive stock opened at $16.95 on Tuesday. The firm has a market cap of $21.03 billion, a PE ratio of -5.80 and a beta of 1.62. Rivian Automotive, Inc. has a 12-month low of $11.57 and a 12-month high of $22.69. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $15.29 and its two-hundred day simple moving average is $16.29.

Insiders Place Their Bets

In other news, CFO Claire Mcdonough sold 5,544 shares of Rivian Automotive stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $13.43, for a total transaction of $74,455.92. Following the sale, the chief financial officer owned 902,630 shares of the company’s stock, valued at approximately $12,122,320.90. The trade was a 0.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Robert J. Scaringe sold 34,818 shares of Rivian Automotive stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $15.00, for a total transaction of $522,270.00. Following the sale, the chief executive officer directly owned 922,286 shares in the company, valued at $13,834,290. The trade was a 3.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 109,767 shares of company stock worth $1,704,098. Insiders own 1.48% of the company’s stock.

Rivian Automotive Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.