Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,673 shares of the electric vehicle automaker’s stock after buying an additional 25,000 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Rivian Automotive were worth $2,454,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Baillie Gifford & Co. boosted its holdings in Rivian Automotive by 52.5% in the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after purchasing an additional 17,341,786 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Rivian Automotive by 153.2% in the 2nd quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock valued at $72,877,000 after purchasing an additional 3,285,867 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Rivian Automotive by 79.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after buying an additional 2,035,831 shares during the last quarter. abrdn plc grew its position in shares of Rivian Automotive by 17.8% during the third quarter. abrdn plc now owns 3,439,143 shares of the electric vehicle automaker’s stock worth $38,587,000 after buying an additional 518,561 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Rivian Automotive by 53.8% in the second quarter. Bank of New York Mellon Corp now owns 2,972,339 shares of the electric vehicle automaker’s stock valued at $39,889,000 after acquiring an additional 1,039,758 shares in the last quarter. 66.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,334 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the completion of the transaction, the chief executive officer now directly owns 863,361 shares of the company’s stock, valued at approximately $9,712,811.25. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the transaction, the chief financial officer now owns 378,498 shares in the company, valued at approximately $3,796,334.94. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,974 shares of company stock worth $2,038,483 over the last ninety days. 2.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RIVN has been the subject of several recent analyst reports. Wolfe Research started coverage on shares of Rivian Automotive in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Bank of America lowered Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $13.00 in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $14.00 target price on shares of Rivian Automotive in a report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of Rivian Automotive in a report on Friday, November 8th. Finally, Royal Bank of Canada reduced their price objective on Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.83.

Rivian Automotive Stock Up 1.2 %

Shares of Rivian Automotive stock opened at $14.37 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1-year low of $8.26 and a 1-year high of $24.61. The business’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $12.66. The company has a market capitalization of $14.67 billion, a P/E ratio of -2.57 and a beta of 2.12.

Rivian Automotive Company Profile

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.