Baillie Gifford & Co. Raises Stock Position in Rivian Automotive, Inc. (NASDAQ:RIVN)

Baillie Gifford & Co. raised its holdings in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 52.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,357,579 shares of the electric vehicle automaker’s stock after acquiring an additional 17,341,786 shares during the quarter. Baillie Gifford & Co. owned approximately 4.99% of Rivian Automotive worth $565,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Quent Capital LLC boosted its stake in shares of Rivian Automotive by 74.3% during the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker’s stock worth $26,000 after acquiring an additional 831 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Rivian Automotive by 63.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 1,002 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Rivian Automotive by 975.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker’s stock worth $29,000 after acquiring an additional 2,380 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Rivian Automotive during the 2nd quarter valued at $37,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Rivian Automotive by 30.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker’s stock valued at $38,000 after buying an additional 670 shares in the last quarter. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RIVN. The Goldman Sachs Group lowered their target price on shares of Rivian Automotive from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Stifel Nicolaus lowered their target price on shares of Rivian Automotive from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler lowered their target price on shares of Rivian Automotive from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho lowered their target price on shares of Rivian Automotive from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Morgan Stanley cut shares of Rivian Automotive from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $13.00 in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.68.

Insider Activity at Rivian Automotive

In related news, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at approximately $5,328,423.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Robert J. Scaringe sold 83,333 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the transaction, the chief executive officer now directly owns 886,526 shares in the company, valued at approximately $10,319,162.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.57, for a total transaction of $43,559.70. Following the transaction, the chief financial officer now owns 392,662 shares in the company, valued at $5,328,423.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 169,876 shares of company stock worth $2,153,551. Insiders own 2.51% of the company’s stock.

Rivian Automotive Stock Performance

Rivian Automotive stock opened at $11.04 on Tuesday. The company’s 50-day moving average price is $11.30 and its 200-day moving average price is $12.38. Rivian Automotive, Inc. has a twelve month low of $8.26 and a twelve month high of $24.61. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The company has a market cap of $11.13 billion, a PE ratio of -1.97 and a beta of 2.04.

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.