Vise Technologies Inc. Acquires Shares of 10,512 Rivian Automotive, Inc. $RIVN

Vise Technologies Inc. bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 10,512 shares of the electric vehicle automaker’s stock, valued at approximately $144,000.

Several other hedge funds have also made changes to their positions in the company. Caisse Des Depots ET Consignations purchased a new stake in shares of Rivian Automotive in the first quarter valued at $2,807,000. Ethos Financial Group LLC purchased a new stake in Rivian Automotive in the 1st quarter worth about $311,000. Intech Investment Management LLC boosted its position in Rivian Automotive by 522.0% during the 1st quarter. Intech Investment Management LLC now owns 350,965 shares of the electric vehicle automaker’s stock worth $4,370,000 after acquiring an additional 294,539 shares during the period. Udine Wealth Management Inc. acquired a new stake in Rivian Automotive during the 2nd quarter worth about $937,000. Finally, Mn Services Vermogensbeheer B.V. grew its stake in Rivian Automotive by 24.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 293,800 shares of the electric vehicle automaker’s stock valued at $4,037,000 after acquiring an additional 57,500 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RIVN. Zacks Research upgraded shares of Rivian Automotive from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Stifel Nicolaus lifted their target price on shares of Rivian Automotive from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Rivian Automotive in a research note on Monday, August 25th. Mizuho reissued an “underperform” rating and set a $10.00 price objective (down previously from $14.00) on shares of Rivian Automotive in a research report on Monday, October 20th. Finally, UBS Group boosted their target price on Rivian Automotive from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.34.

Rivian Automotive Stock Up 0.8%

RIVN stock opened at $14.99 on Wednesday. The company has a current ratio of 2.71, a quick ratio of 2.23 and a debt-to-equity ratio of 0.87. The firm has a market cap of $18.38 billion, a PE ratio of -4.82 and a beta of 1.81. Rivian Automotive, Inc. has a 1 year low of $9.90 and a 1 year high of $18.13. The company has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $13.85.

Insider Activity

In other news, CEO Robert J. Scaringe sold 52,350 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $16.60, for a total transaction of $869,010.00. Following the transaction, the chief executive officer owned 1,246,405 shares of the company’s stock, valued at approximately $20,690,323. This represents a 4.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 87,250 shares of company stock worth $1,357,610. Corporate insiders own 2.16% of the company’s stock.

About Rivian Automotive

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.