UMB Bank N A MO acquired a new position in Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 1,018 shares of the electric vehicle automaker’s stock, valued at approximately $51,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in RIVN. Sargent Bickham Lagudis LLC purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $25,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $25,000. Retirement Group LLC purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $26,000. Lumature Wealth Partners LLC purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $26,000. Finally, Larson Financial Group LLC purchased a new stake in Rivian Automotive in the 4th quarter worth approximately $27,000. 78.67% of the stock is owned by institutional investors.
In other Rivian Automotive news, Director Jay T. Flatley acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were acquired at an average price of 29.31 per share, with a total value of 1,172,400.00. Following the completion of the purchase, the director now directly owns 92,616 shares of the company’s stock, valued at approximately 2,714,574.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Motor Co Ford sold 8,000,000 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of 26.80, for a total transaction of 214,400,000.00. Following the sale, the insider now directly owns 93,947,494 shares in the company, valued at approximately 2,517,792,839.20. The disclosure for this sale can be found here. Insiders have sold a total of 15,006,926 shares of company stock worth $402,737,029 in the last ninety days. Insiders own 2.34% of the company’s stock.
Shares of RIVN opened at 31.99 on Friday. The firm’s 50-day moving average price is 28.25 and its 200-day moving average price is 48.78. The company has a quick ratio of 10.86, a current ratio of 11.19 and a debt-to-equity ratio of 0.07. Rivian Automotive, Inc. has a 1-year low of 19.25 and a 1-year high of 179.47.
Rivian Automotive (NASDAQ:RIVN – Get Rating) last announced its earnings results on Wednesday, May 11th. The electric vehicle automaker reported -1.43 earnings per share for the quarter, beating analysts’ consensus estimates of -1.50 by 0.07. The company had revenue of 95.00 million for the quarter, compared to the consensus estimate of 113.64 million. Sell-side analysts anticipate that Rivian Automotive, Inc. will post -6.39 earnings per share for the current year.
Several research firms have issued reports on RIVN. Morgan Stanley lowered their target price on shares of Rivian Automotive from $85.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 17th. Robert W. Baird lowered their target price on shares of Rivian Automotive from $84.00 to $67.00 in a research note on Thursday, May 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Rivian Automotive from $90.00 to $69.00 in a research report on Friday, May 13th. DA Davidson initiated coverage on shares of Rivian Automotive in a research report on Wednesday, June 1st. They set an “underperform” rating and a $24.00 price objective on the stock. Finally, Mizuho lowered their price objective on shares of Rivian Automotive from $80.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of 70.41.
Rivian Automotive Company Profile (Get Rating)
Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.
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