Tableaux LLC Invests $3.44 Million in Rivian Automotive, Inc. $RIVN

Tableaux LLC bought a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the second quarter, Holdings Channel.com reports. The fund bought 250,000 shares of the electric vehicle automaker’s stock, valued at approximately $3,435,000.

A number of other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in Rivian Automotive by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 976,531 shares of the electric vehicle automaker’s stock valued at $13,417,000 after acquiring an additional 73,248 shares in the last quarter. AXQ Capital LP purchased a new position in shares of Rivian Automotive in the 2nd quarter valued at approximately $1,048,000. MAI Capital Management boosted its position in shares of Rivian Automotive by 25.3% during the second quarter. MAI Capital Management now owns 10,460 shares of the electric vehicle automaker’s stock valued at $144,000 after purchasing an additional 2,112 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Rivian Automotive in the second quarter worth $2,835,000. Finally, Swiss National Bank raised its holdings in Rivian Automotive by 11.1% in the second quarter. Swiss National Bank now owns 2,379,400 shares of the electric vehicle automaker’s stock worth $32,693,000 after purchasing an additional 237,200 shares in the last quarter. 66.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RIVN has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Rivian Automotive in a report on Wednesday, October 8th. UBS Group lifted their target price on shares of Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, October 6th. The Goldman Sachs Group cut their price target on Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Zacks Research upgraded Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Rivian Automotive from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Monday, October 20th. Six equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.34.

Insider Transactions at Rivian Automotive

In other news, CEO Robert J. Scaringe sold 52,350 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total value of $869,010.00. Following the sale, the chief executive officer directly owned 1,246,405 shares in the company, valued at $20,690,323. The trade was a 4.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 87,250 shares of company stock worth $1,357,610 over the last quarter. 2.16% of the stock is owned by corporate insiders.

Rivian Automotive Stock Up 1.4%

Shares of RIVN stock opened at $14.86 on Friday. Rivian Automotive, Inc. has a 12 month low of $10.00 and a 12 month high of $18.13. The company has a 50 day simple moving average of $14.27 and a two-hundred day simple moving average of $13.87. The stock has a market cap of $18.22 billion, a P/E ratio of -4.78 and a beta of 1.81. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Tuesday, November 4th. The electric vehicle automaker reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.02. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative net margin of 61.34% and a negative return on equity of 57.33%. The company’s revenue was up 78.3% on a year-over-year basis. During the same period in the prior year, the business posted ($1.08) earnings per share. On average, research analysts expect that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

About Rivian Automotive

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.