&Partners invests $1.21 million in Rivian Automotive, Inc. (NASDAQ:RIVN)

&Partners acquired a new stake in Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 89,924 shares of the electric vehicle maker’s stock, valued at approximately $1,207,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIVN. SteelPeak Wealth LLC bought a new position in shares of Rivian Automotive in the first quarter valued at $265,000. Berkshire Capital Holdings Inc. raised its position in Rivian Automotive by 3,511,500.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 351,160 shares of the electric vehicle maker’s stock valued at $8,238,000 after purchasing an additional 351,150 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Rivian Automotive during the 4th quarter valued at about $81,000. Massachusetts Financial Services Co. MA purchased a new stake in Rivian Automotive during the fourth quarter valued at approximately $6,106,000. Finally, Allianz Asset Management GmbH boosted its stake in Rivian Automotive by 9.9% in the fourth quarter. Allianz Asset Management GmbH now owns 3,403,461 shares of the electric vehicle maker’s stock worth $79,845,000 after buying an additional 306,551 shares in the last quarter. Institutional investors own 66.25% of the company’s shares.

Insiders place their bets

In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the transaction, the chief financial officer now owns 392,662 shares in the company, valued at approximately $5,328,423.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other Rivian Automotive news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the transaction, the chief financial officer now directly owns 392,662 shares of the company’s stock, valued at approximately $5,328,423.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, CEO Robert J. Scaringe sold 71,429 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $11.25, for a total transaction of $803,576.25. Following the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at $10,234,023.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold a total of 488,926 shares of company stock worth $7,552,869. Corporate insiders own 2.30% of the company’s shares.

The Wall Street analyst weighs in

Several research firms recently weighed in on RIVN. Barclays boosted their target price on shares of Rivian Automotive from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Mizuho boosted their price target on Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Needham & Company LLC cut their price target on Rivian Automotive from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $19.00 price objective on shares of Rivian Automotive in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on Rivian Automotive from $10.00 to $14.00 and gave the company an “underweight” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Rivian Automotive has a consensus rating of “Hold” and a consensus price target of $18.14 based on data from MarketBeat.

Get our latest report on Rivian Automotive

Rivian Automotive stocks rose 9.0%

RIVN opened at $13.96 on Friday. Rivian Automotive, Inc. has a 12-month low of $8.26 and a 12-month high of $24.87. The company has a market cap of $13.89 billion, a PE ratio of -2.42 and a beta of 2.09. The company has a current ratio of 5.25, a quick ratio of 4.01, and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $14.58 and a 200-day moving average of $12.39.

About Rivian Automotive

(Free report)

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures and sells electric vehicles and accessories. The company offers utility 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.

Further reading

Want to see what other hedge funds RIVN owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Rivian Automotive, Inc. (NASDAQ:RIVN – Free Report).

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