Rivian Automotive, Inc. $RIVN Holdings Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 14.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 895,197 shares of the electric vehicle automaker’s stock after acquiring an additional 115,190 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Rivian Automotive were worth $17,376,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RIVN. Newbridge Financial Services Group Inc. increased its stake in Rivian Automotive by 113.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after purchasing an additional 1,000 shares in the last quarter. Hemington Wealth Management increased its stake in shares of Rivian Automotive by 291.0% in the third quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker’s stock worth $31,000 after acquiring an additional 1,580 shares during the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of Rivian Automotive by 894.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after purchasing an additional 1,395 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Rivian Automotive during the third quarter valued at approximately $31,000. Finally, Glass Jacobson Investment Advisors llc raised its holdings in shares of Rivian Automotive by 96.3% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock valued at $34,000 after purchasing an additional 852 shares in the last quarter. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $14.22 on Monday. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $17.65 billion, a P/E ratio of -4.87 and a beta of 1.64. The firm has a 50 day moving average of $15.67 and a 200-day moving average of $16.25. Rivian Automotive, Inc. has a 1 year low of $11.57 and a 1 year high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Thursday, February 12th. The electric vehicle automaker reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company posted ($0.70) earnings per share. The firm’s quarterly revenue was down 25.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Rivian Automotive, Inc. will post -3.1 EPS for the current fiscal year.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 21,446 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $16.17, for a total value of $346,781.82. Following the completion of the sale, the chief executive officer owned 1,001,138 shares of the company’s stock, valued at approximately $16,188,401.46. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total value of $184,410.00. Following the completion of the sale, the chief financial officer owned 946,814 shares of the company’s stock, valued at $17,042,652. This trade represents a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 148,888 shares of company stock valued at $2,411,276 over the last three months. Company insiders own 2.16% of the company’s stock.

Trending Headlines about Rivian Automotive

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Reports that Rivian is developing lower-priced R2 variants suggest a wider addressable market and better sales potential for its next-generation SUV lineup. 1 Surprising Reason Rivian Stock Is a Buy Before the SpaceX IPO
• Positive Sentiment: Uber’s order for 10,000 autonomous vehicles from Rivian reinforces a potential new commercial demand stream and helps validate Rivian’s technology platform. Uber’s Robotaxi And Parking Bets Recast Growth And Risk For Investors
• Neutral Sentiment: Analysts and commentators are also highlighting Rivian as a beneficiary of a possible SpaceX IPO, arguing that a larger EV/tech risk appetite could indirectly help sentiment toward RIVN. Here’s Why the SpaceX IPO Makes Rivian Stock a Buy
• Neutral Sentiment: Coverage about high gasoline prices notes that fuel costs likely need to rise further before they materially accelerate EV adoption, which is a broader industry factor rather than a direct Rivian-specific catalyst. How High Gas Prices Need to Rise to Boost Electric Vehicle Sales
• Negative Sentiment: Despite the upbeat R2 news, one report said RIVN is still on track for a third straight week in the red, indicating sentiment remains fragile and investors want proof that the new variants can translate into real demand and better execution. RIVN on track for third straight week in the red despite CEO teasing fresh R2 variants

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RIVN shares. Wolfe Research lowered Rivian Automotive from a “peer perform” rating to an “underperform” rating in a report on Monday, January 12th. Canaccord Genuity Group restated a “buy” rating and set a $22.00 price target on shares of Rivian Automotive in a research note on Monday, April 6th. Bank of America initiated coverage on Rivian Automotive in a research report on Wednesday, March 4th. They set an “underperform” rating and a $14.00 price objective on the stock. Wall Street Zen upgraded Rivian Automotive from a “strong sell” rating to a “sell” rating in a research note on Sunday. Finally, Stifel Nicolaus raised their target price on Rivian Automotive from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.52.

About Rivian Automotive

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.