Quantbot Technologies LP Has $5.58 Million Stake in Rivian Automotive, Inc. $RIVN

Quantbot Technologies LP increased its position in Rivian Automotive, Inc. (NASDAQ:RIVN) by 450.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 380,228 shares of the electric vehicle automaker’s stock after purchasing an additional 311,090 shares during the quarter. Quantbot Technologies LP’s holdings in Rivian Automotive were worth $5,582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of Rivian Automotive by 315.6% in the 2nd quarter. Assetmark Inc. now owns 1,787 shares of the electric vehicle automaker’s stock valued at $25,000 after buying an additional 1,357 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Rivian Automotive by 113.6% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,880 shares of the electric vehicle automaker’s stock valued at $26,000 after acquiring an additional 1,000 shares during the period. Mather Group LLC. bought a new stake in Rivian Automotive in the third quarter valued at about $30,000. Hemington Wealth Management raised its position 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 worth $31,000 after purchasing an additional 1,580 shares in the last quarter. Finally, WealthCollab LLC lifted its stake in Rivian Automotive by 98.4% during the second quarter. WealthCollab LLC now owns 3,126 shares of the electric vehicle automaker’s stock worth $43,000 after purchasing an additional 1,550 shares during the period. Institutional investors own 66.25% of the company’s stock.

Rivian Automotive Stock Performance

Rivian Automotive stock opened at $15.33 on Friday. The stock has a 50-day simple moving average of $17.11 and a 200 day simple moving average of $15.57. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of -4.99 and a beta of 1.76. The company has a quick ratio of 1.89, a current ratio of 2.33 and a debt-to-equity ratio of 0.97. Rivian Automotive, Inc. has a 12-month low of $10.36 and a 12-month high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings data on Thursday, February 12th. The electric vehicle automaker reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.02. Rivian Automotive had a negative net margin of 67.68% and a negative return on equity of 65.05%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company posted ($0.70) EPS. The company’s quarterly revenue was down 25.8% compared to the same quarter last year. On average, research analysts anticipate that Rivian Automotive, Inc. will post -3.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Rivian Automotive in a research note on Friday, February 13th. Morgan Stanley reiterated an “underweight” rating and issued a $12.00 price target on shares of Rivian Automotive in a research report on Monday, December 8th. UBS Group upgraded Rivian Automotive from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $15.00 to $16.00 in a research note on Friday, February 13th. Evercore reissued an “outperform” rating on shares of Rivian Automotive in a report on Monday, December 15th. Finally, Wall Street Zen lowered shares of Rivian Automotive from a “hold” rating to a “strong sell” rating in a report on Sunday, February 15th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, Rivian Automotive currently has an average rating of “Hold” and an average target price of $18.10.

Insider Activity

In other news, CEO Robert J. Scaringe sold 34,900 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $16.80, for a total transaction of $586,320.00. Following the completion of the sale, the chief executive officer owned 1,044,731 shares in the company, valued at $17,551,480.80. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Claire Mcdonough sold 27,133 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $16.80, for a total value of $455,834.40. Following the transaction, the chief financial officer directly owned 680,836 shares in the company, valued at $11,438,044.80. This trade represents a 3.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 164,737 shares of company stock valued at $2,922,209 over the last three months. 2.16% of the stock is owned by insiders.

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.