Telemark Asset Management LLC Purchases Shares of 200,000 Rivian Automotive, Inc. $RIVN

Telemark Asset Management LLC purchased a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 200,000 shares of the electric vehicle automaker’s stock, valued at approximately $3,942,000.

Other hedge funds also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its position in shares of Rivian Automotive by 113.6% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 1,000 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in shares of Rivian Automotive during the fourth quarter worth approximately $27,000. SOA Wealth Advisors LLC. grew its position in shares of Rivian Automotive by 894.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,551 shares of the electric vehicle automaker’s stock worth $31,000 after acquiring an additional 1,395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Rivian Automotive during the third quarter worth approximately $31,000. Finally, Glass Jacobson Investment Advisors llc grew its position in shares of Rivian Automotive by 96.3% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,737 shares of the electric vehicle automaker’s stock worth $34,000 after acquiring an additional 852 shares during the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $16.35 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.10 and a quick ratio of 1.64. The stock has a fifty day moving average price of $15.45 and a 200 day moving average price of $16.33. Rivian Automotive, Inc. has a 1-year low of $11.57 and a 1-year high of $22.69. The company has a market cap of $20.29 billion, a PE ratio of -5.60 and a beta of 1.62.

Rivian Automotive News Summary

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

• Positive Sentiment: Rivian shares have been rising as investors bet on strong reception for the upcoming R2 SUV launch, with some commentary calling it a potentially transformative step for the company. Here’s Why Rivian Stock Jumped This Week
• Positive Sentiment: Volkswagen’s $1 billion investment and minority stake in Rivian add validation to the company’s strategy and may improve investor confidence ahead of the R2 rollout. Volkswagen’s Rivian Stake Puts Focus On R2 Launch And Valuation Gap
• Positive Sentiment: TD Cowen reiterated a buy rating on Rivian, and unusual options activity showed heavy call buying, signaling that traders are still leaning bullish on the stock. Rivian Automotive (NASDAQ:RIVN) Given “Buy” Rating at TD Cowen
• Positive Sentiment: AT&T-related coverage highlighted Rivian as part of a connected-car growth story, with 5G support for the R2 potentially strengthening the vehicle’s appeal. Can AT&T’s Extended Tie-Ups for Connected Car Accelerate Growth?
• Neutral Sentiment: Some articles are framing Rivian as a high-risk, high-reward stock, noting that investors are waiting to see whether the R2 launch can justify the recent run-up in shares. If You Buy Rivian Right Now, Could It Make You a Millionaire?
• Negative Sentiment: The biggest risk for Rivian is that the stock’s recent strength is tied to expectations, so any disappointment around the R2 launch or demand outlook could pressure shares. Rivian: Wait For The R2 Launch

Insider Buying and Selling at Rivian Automotive

In related news, CFO Claire Mcdonough sold 8,023 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $16.00, for a total transaction of $128,368.00. Following the completion of the sale, the chief financial officer directly owned 887,007 shares of the company’s stock, valued at $14,192,112. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $522,270.00. Following the transaction, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. The trade was a 3.64% decrease in their position. 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. Over the last ninety days, insiders have sold 117,790 shares of company stock valued at $1,832,466. Corporate insiders own 1.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RIVN shares. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, May 1st. Piper Sandler lowered their target price on shares of Rivian Automotive from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Wedbush restated an “outperform” rating and set a $25.00 target price on shares of Rivian Automotive in a research report on Friday, February 13th. UBS Group upgraded shares of Rivian Automotive from a “sell” rating to a “neutral” rating and raised their target price for the stock from $15.00 to $16.00 in a research report on Friday, February 13th. Finally, Cantor Fitzgerald raised their target price on shares of Rivian Automotive from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.57.

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.