WINTON GROUP Ltd Buys Shares of 227,099 Rivian Automotive, Inc. $RIVN

WINTON GROUP Ltd purchased a new stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 227,099 shares of the electric vehicle automaker’s stock, valued at approximately $3,120,000.

Several other hedge funds and other institutional investors have also modified their holdings of RIVN. Charles Schwab Investment Management Inc. raised its stake in shares of Rivian Automotive by 15.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,849,818 shares of the electric vehicle automaker’s stock worth $80,376,000 after purchasing an additional 799,030 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Rivian Automotive in the 2nd quarter valued at approximately $1,324,000. Ethos Financial Group LLC acquired a new position in Rivian Automotive in the first quarter worth approximately $311,000. Tableaux LLC bought a new position in Rivian Automotive during the second quarter valued at approximately $3,435,000. Finally, Intech Investment Management LLC raised its position in Rivian Automotive by 522.0% during the first quarter. Intech Investment Management LLC now owns 350,965 shares of the electric vehicle automaker’s stock valued at $4,370,000 after acquiring an additional 294,539 shares in the last quarter. 66.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rivian Automotive

In other news, CFO Claire Mcdonough sold 21,210 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $17.14, for a total transaction of $363,539.40. Following the transaction, the chief financial officer owned 738,056 shares in the company, valued at approximately $12,650,279.84. The trade was a 2.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 52,350 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $16.60, for a total transaction of $869,010.00. Following the transaction, the chief executive officer directly owned 1,246,405 shares of the company’s stock, valued at $20,690,323. This represents a 4.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 133,949 shares of company stock valued at $2,129,521. Corporate insiders own 2.16% of the company’s stock.

Rivian Automotive Stock Performance

Shares of NASDAQ RIVN opened at $17.61 on Tuesday. Rivian Automotive, Inc. has a 12 month low of $10.36 and a 12 month high of $18.60. The company has a market cap of $21.59 billion, a P/E ratio of -5.66 and a beta of 1.79. The business’s 50 day moving average is $14.70 and its two-hundred day moving average is $14.00. The company has a quick ratio of 2.23, a current ratio of 2.71 and a debt-to-equity ratio of 0.87.

Analysts Set New Price Targets

RIVN has been the subject of several recent research reports. Cfra Research raised shares of Rivian Automotive to a “moderate sell” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group decreased their price objective on shares of Rivian Automotive from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Morgan Stanley reissued an “underweight” rating and set a $12.00 target price on shares of Rivian Automotive in a research report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rivian Automotive in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of Rivian Automotive in a research note on Monday, August 25th. Six equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.34.

Rivian Automotive Profile

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.