Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Purchased by DNB Asset Management AS


DNB Asset Management AS raised its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,024 shares of the electric vehicle automaker’s stock after buying an additional 2,093 shares during the period. DNB Asset Management AS’s holdings in Rivian Automotive were worth $1,358,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RIVN. Amazon com Inc bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $16,420,746,000. Coatue Management LLC bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $3,652,616,000. BlackRock Inc. bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $3,195,595,000. Capital Research Global Investors bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $2,562,520,000. Finally, Soros Fund Management LLC bought a new position in shares of Rivian Automotive during the 4th quarter valued at about $2,056,770,000. Institutional investors own 78.67% of the company’s stock.

In other news, Director Jay T. Flatley purchased 40,000 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were bought at an average price of 29.31 per share, with a total value of 1,172,400.00. Following the completion of the transaction, the director now directly owns 92,616 shares in the company, valued at approximately 2,714,574.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jeff Baker sold 6,034 shares of Rivian Automotive stock in a transaction that occurred on Monday, May 16th. The shares were 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 directly owns 80,778 shares in the company, valued at approximately 2,064,685.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,006,926 shares of company stock worth $402,737,029. Insiders own 2.34% of the company’s stock.

RIVN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Rivian Automotive from $90.00 to $69.00 in a report on Friday, May 13th. Royal Bank of Canada decreased their target price on shares of Rivian Automotive from $100.00 to $77.00 in a report on Thursday, May 12th. Morgan Stanley decreased their target price on shares of Rivian Automotive from $85.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, May 17th. Robert W. Baird decreased their target price on shares of Rivian Automotive from $84.00 to $67.00 in a report on Thursday, May 12th. Finally, Wedbush decreased their target price on shares of Rivian Automotive from $60.00 to $30.00 in a report on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of 70.41.

Shares of RIVN opened at 29.50 on Friday. The firm’s 50 day moving average price is 29.46 and its 200 day moving average price is 54.13. 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 twelve month low of 19.25 and a twelve month high of 179.47.

Rivian Automotive (NASDAQ:RIVN – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The electric vehicle automaker reported -1.43 earnings per share for the quarter, beating the consensus estimate of -1.50 by 0.07. The business had revenue of 95.00 million for the quarter, compared to the consensus estimate of 113.64 million. As a group, equity analysts forecast that Rivian Automotive, Inc. will post -6.39 earnings per share for the current fiscal year.

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.

See Also

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



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