Machina Capital S.A.S. Invests $726,000 in Rivian Automotive, Inc. $RIVN

Machina Capital S.A.S. bought a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN) during the third quarter, HoldingsChannel reports. The firm bought 49,470 shares of the electric vehicle automaker’s stock, valued at approximately $726,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. grew its stake in Rivian Automotive by 315.6% in the second quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after purchasing an additional 1,357 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of 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 valued at $26,000 after buying an additional 1,000 shares during the last quarter. Mather Group LLC. bought a new position in shares of Rivian Automotive in the third quarter valued at $30,000. Fairman Group LLC bought a new stake in Rivian Automotive during the second quarter worth $31,000. Finally, Hemington Wealth Management lifted its stake in Rivian Automotive by 291.0% in the third quarter. Hemington Wealth Management now owns 2,123 shares of the electric vehicle automaker’s stock valued at $31,000 after acquiring an additional 1,580 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Analyst Upgrades and Downgrades

RIVN has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a report on Thursday, January 22nd. DA Davidson boosted their price target on Rivian Automotive from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Canaccord Genuity Group restated a “buy” rating on shares of Rivian Automotive in a research note on Monday, December 15th. JPMorgan Chase & Co. raised their price objective on Rivian Automotive from $9.00 to $10.00 and gave the company an “underweight” rating in a research report on Monday, October 20th. Finally, Zacks Research upgraded Rivian Automotive from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.74.

Insider Activity

In related news, CFO Claire Mcdonough sold 8,039 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $18.00, for a total value of $144,702.00. Following the transaction, the chief financial officer directly owned 730,017 shares in the company, valued at approximately $13,140,306. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert J. Scaringe sold 17,450 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $16.03, for a total transaction of $279,723.50. Following the transaction, the chief executive officer directly owned 1,115,209 shares in the company, valued at approximately $17,876,800.27. This represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 172,504 shares of company stock valued at $3,012,734. 2.16% of the stock is owned by company insiders.

Rivian Automotive Price Performance

Shares of NASDAQ RIVN opened at $14.37 on Thursday. The firm has a market cap of $17.62 billion, a P/E ratio of -4.62 and a beta of 1.76. The business’s 50 day moving average is $17.98 and its 200-day moving average is $15.26. 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, Inc. has a 1-year low of $10.36 and a 1-year high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Tuesday, November 4th. The electric vehicle automaker reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.06. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.27 billion. Rivian Automotive had a negative return on equity of 57.33% and a negative net margin of 61.34%.The company’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.08) EPS. Equities research analysts predict that Rivian Automotive, Inc. will post -3.2 earnings per share for the current year.

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.