2,691 Shares in Rivian Automotive, Inc. (NASDAQ:RIVN) Acquired by Pantheon Investment Group LLC

Pantheon Investment Group LLC purchased a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVNGet Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,691 shares of the electric vehicle automaker’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rivian Automotive during the 4th quarter worth approximately $3,395,000. Avantax Advisory Services Inc. acquired a new position in Rivian Automotive during the 4th quarter worth $567,000. Arizona State Retirement System acquired a new position in Rivian Automotive during the 4th quarter worth $4,902,000. TAP Consulting LLC acquired a new position in Rivian Automotive during the 4th quarter worth $30,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Rivian Automotive during the 4th quarter worth $296,000. Institutional investors and hedge funds own 78.67% of the company’s stock.

Several research firms have issued reports on RIVN. Wells Fargo & Company reduced their price objective on Rivian Automotive from $40.00 to $24.00 in a report on Wednesday, May 11th. Wedbush reduced their price objective on Rivian Automotive from $60.00 to $30.00 in a report on Thursday, May 12th. Exane BNP Paribas raised Rivian Automotive from an “underperform” rating to a “neutral” rating in a report on Thursday, May 12th. Morgan Stanley reduced their price objective on Rivian Automotive from $85.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Zacks Investment Research raised Rivian Automotive from a “sell” rating to a “hold” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Rivian Automotive currently has a consensus rating of “Buy” and a consensus target price of 73.12.

Shares of RIVN traded up 2.33 during trading hours on Thursday, reaching 29.62. The stock had a trading volume of 694,236 shares, compared to its average volume of 20,375,703. The company has a quick ratio of 10.86, a current ratio of 11.19 and a debt-to-equity ratio of 0.07. Rivian Automotive, Inc. has a 52 week low of 19.25 and a 52 week high of 179.47. The company’s 50-day moving average is 37.33.

Rivian Automotive (NASDAQ:RIVNGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The electric vehicle automaker reported -1.43 EPS for the quarter, beating analysts’ consensus estimates of -1.50 by 0.07. The firm had revenue of 95.00 million during the quarter, compared to the consensus estimate of 113.64 million. On average, equities research analysts expect that Rivian Automotive, Inc. will post -6.42 earnings per share for the current fiscal year.

In other Rivian Automotive news, CAO Jeff Baker sold 6,034 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of 25.56, for a total transaction of 154,229.04. Following the completion of the transaction, the chief accounting officer now owns 80,778 shares in the company, valued at approximately 2,064,685.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Motor Co Ford sold 7,000,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were sold at an average price of 26.88, for a total value of 188,160,000.00. Following the completion of the transaction, the insider now owns 86,947,494 shares of the company’s stock, valued at approximately 2,337,148,638.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,006,926 shares of company stock valued at $402,737,029.

About Rivian Automotive (Get Rating)

Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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