MUFG Securities EMEA plc Invests $24.26 Million in Rivian Automotive, Inc. $RIVN

MUFG Securities EMEA plc bought a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,231,000 shares of the electric vehicle automaker’s stock, valued at approximately $24,263,000.

Other institutional investors have also modified their holdings of the company. Danske Bank A S grew its holdings in shares of Rivian Automotive by 36.8% during the 4th quarter. Danske Bank A S now owns 613,993 shares of the electric vehicle automaker’s stock worth $12,102,000 after purchasing an additional 165,300 shares during the period. Trek Financial LLC purchased a new stake in shares of Rivian Automotive during the 4th quarter worth about $6,115,000. New York State Common Retirement Fund lifted its position in Rivian Automotive by 36.4% during the 3rd quarter. New York State Common Retirement Fund now owns 597,353 shares of the electric vehicle automaker’s stock worth $8,769,000 after acquiring an additional 159,400 shares in the last quarter. Swedbank AB lifted its position in Rivian Automotive by 8.6% during the 4th quarter. Swedbank AB now owns 941,304 shares of the electric vehicle automaker’s stock worth $18,553,000 after acquiring an additional 74,322 shares in the last quarter. Finally, DNB Asset Management AS lifted its position in Rivian Automotive by 85.4% during the 3rd quarter. DNB Asset Management AS now owns 728,262 shares of the electric vehicle automaker’s stock worth $10,691,000 after acquiring an additional 335,511 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Rivian Automotive News Summary

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

• Positive Sentiment: Investors are focusing on Rivian’s growth story, including the upcoming R2 launch and expectations that software-related revenue could become a bigger driver as the company expands beyond its current lineup. Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
• Positive Sentiment: Rivian’s stock is also benefiting from improved sentiment across EV names and trader interest, which has helped push shares higher despite technical warning signs. Rivian Stock Climbs Friday: What’s Driving The Move?
• Neutral Sentiment: Rivian remains a trending stock, suggesting elevated investor attention and the potential for continued volatility as traders reassess the company’s outlook. Rivian Automotive, Inc. (RIVN) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: The biggest drag is a new NHTSA investigation into 114,922 R1S and R1T vehicles over a possible rear toe link defect, raising recall, repair, and reputational risk. US auto safety regulator opens probe into nearly 115,000 Rivian vehicles
• Negative Sentiment: Follow-up reports say the probe stems from rear suspension failures that may have caused vehicles to swerve, which could increase scrutiny and pressure on the stock if the issue widens. Rivian under investigation over rear suspension failures on R1 models

Insider Buying and Selling

In other Rivian Automotive news, CFO Claire Mcdonough sold 10,245 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $18.00, for a total value of $184,410.00. Following the transaction, the chief financial officer directly owned 946,814 shares of the company’s stock, valued at $17,042,652. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $15.00, for a total value of $522,270.00. Following the completion of the transaction, the chief executive officer directly owned 922,286 shares in the company, valued at approximately $13,834,290. The trade was a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 127,217 shares of company stock worth $1,965,848. 2.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Tigress Financial reissued a “buy” rating and set a $25.00 price target on shares of Rivian Automotive in a research report on Friday, April 10th. Wall Street Zen raised Rivian Automotive from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Stifel Nicolaus boosted their price target on Rivian Automotive from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Canaccord Genuity Group reissued a “buy” rating and set a $22.00 price target on shares of Rivian Automotive in a research report on Monday, April 6th. Finally, BNP Paribas Exane reissued an “outperform” rating and set a $22.00 price target (down from $23.00) on shares of Rivian Automotive in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.57.

Rivian Automotive Stock Performance

Shares of RIVN opened at $16.30 on Friday. The business’s 50 day moving average is $15.28 and its two-hundred day moving average is $16.30. Rivian Automotive, Inc. has a 52-week low of $11.57 and a 52-week high of $22.69. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of -5.58 and a beta of 1.64. The company has a quick ratio of 1.64, a current ratio of 2.10 and a debt-to-equity ratio of 1.00.

Rivian Automotive Profile

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.