Polianta Ltd Takes $1.51 Million Position in Rivian Automotive, Inc. $RIVN

Polianta Ltd bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 1st quarter, Holdings Channel.com reports. The fund bought 100,100 shares of the electric vehicle automaker’s stock, valued at approximately $1,506,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIVN. Danske Bank A S boosted its holdings in shares of Rivian Automotive by 36.8% during the 4th quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker’s stock valued at $12,102,000 after purchasing an additional 165,300 shares during the last quarter. Trek Financial LLC bought a new stake in shares of Rivian Automotive in the fourth quarter worth about $6,115,000. Swedbank AB increased its holdings in shares of Rivian Automotive by 8.6% in the fourth quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker’s stock worth $18,553,000 after purchasing an additional 74,322 shares during the last quarter. DNB Asset Management AS increased its holdings in shares of Rivian Automotive by 85.4% in the third quarter. DNB Asset Management AS now owns 728,262 shares of the electric vehicle automaker’s stock worth $10,691,000 after purchasing an additional 335,511 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Rivian Automotive in the fourth quarter worth about $4,895,000. Institutional investors own 66.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RIVN shares. Tigress Financial reissued a “buy” rating and set a $25.00 price target on shares of Rivian Automotive in a research note on Friday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Rivian Automotive in a research note on Wednesday, June 10th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rivian Automotive in a report on Monday, June 15th. DA Davidson increased their target price on Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, TD Cowen reissued a “buy” rating and issued a $20.00 target price on shares of Rivian Automotive in a report on Wednesday, June 3rd. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.57.

Insider Activity

In other Rivian Automotive news, CEO Robert J. Scaringe sold 34,818 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was 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 of the company’s stock, valued at $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire Mcdonough sold 10,245 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $18.00, for a total value of $184,410.00. Following the sale, the chief financial officer owned 946,814 shares in the company, valued at approximately $17,042,652. This trade represents a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 100,340 shares of company stock valued at $1,560,246. 1.48% of the stock is currently owned by company insiders.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $16.52 on Friday. The firm’s 50-day moving average price is $15.67 and its 200-day moving average price is $16.38. 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 $20.50 billion, a price-to-earnings ratio of -5.66 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.

Rivian Automotive Company 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.