National Pension Service Invests $790,000 in Rivian Automotive, Inc. $RIVN

National Pension Service bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 45,557 shares of the electric vehicle automaker’s stock, valued at approximately $790,000.

A number of other large investors have also recently bought and sold shares of the company. Independent Financial Group LLC purchased a new stake in shares of Rivian Automotive in the 1st quarter valued at $985,000. Swedbank AB raised its holdings in shares of Rivian Automotive by 8.6% during 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. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Rivian Automotive by 34.9% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 348,800 shares of the electric vehicle automaker’s stock valued at $5,249,000 after purchasing an additional 90,200 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Rivian Automotive during the fourth quarter valued at $4,895,000. Finally, Mizuho Markets Americas LLC boosted its holdings in Rivian Automotive by 16.1% in the first quarter. Mizuho Markets Americas LLC now owns 683,024 shares of the electric vehicle automaker’s stock valued at $10,280,000 after purchasing an additional 94,840 shares during the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

NASDAQ:RIVN opened at $16.03 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.65 and a current ratio of 2.10. The stock has a market capitalization of $23.21 billion, a PE ratio of -6.21 and a beta of 1.62. Rivian Automotive, Inc. has a fifty-two week low of $12.39 and a fifty-two week high of $22.69. The company has a fifty day moving average of $16.39 and a two-hundred day moving average of $15.91.

Rivian Automotive (NASDAQ:RIVN) last announced its earnings results on Thursday, July 30th. The electric vehicle automaker reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.03. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.52 billion. Rivian Automotive had a negative net margin of 54.96% and a negative return on equity of 73.90%. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.97) earnings per share. As a group, research analysts forecast that Rivian Automotive, Inc. will post -2.98 earnings per share for the current fiscal year.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CFO Claire McDonough sold 13,144 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $14.50, for a total transaction of $190,588.00. Following the completion of the sale, the chief financial officer directly owned 827,201 shares in the company, valued at approximately $11,994,414.50. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Boone sold 20,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the director directly owned 110,000 shares of the company’s stock, valued at $2,200,000. The trade was a 15.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,167 shares of company stock worth $718,956 over the last ninety days. 1.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BNP Paribas Exane lifted their price objective on Rivian Automotive from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Piper Sandler raised Rivian Automotive from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Monday, July 27th. Deutsche Bank Aktiengesellschaft cut Rivian Automotive from a “buy” rating to an “underperform” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered Rivian Automotive from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, TD Cowen raised their price objective on shares of Rivian Automotive from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.05.

Rivian Automotive Company Profile

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer vehicle lineup includes the R1T electric pickup truck and R1S electric SUV, which are designed for on-road and off-road use. The company also develops charging solutions, vehicle software and connected services intended to support the ownership and operation of its electric vehicles.

Rivian produces electric commercial vans for delivery and fleet applications, including vehicles developed through its relationship with Amazon.