Bank of Nova Scotia Sells 675,338 Shares of Rivian Automotive, Inc. $RIVN

Bank of Nova Scotia trimmed its stake in shares of Rivian Automotive, Inc. (NASDAQ:RIVN) by 91.4% in the first quarter, Holdings Channel.com reports. The firm owned 63,714 shares of the electric vehicle automaker’s stock after selling 675,338 shares during the quarter. Bank of Nova Scotia’s holdings in Rivian Automotive were worth $959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Rivian Automotive by 28.0% during the fourth quarter. Brighton Jones LLC now owns 17,685 shares of the electric vehicle automaker’s stock worth $235,000 after buying an additional 3,864 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Rivian Automotive by 1.5% during the 1st quarter. AQR Capital Management LLC now owns 386,384 shares of the electric vehicle automaker’s stock valued at $4,733,000 after acquiring an additional 5,590 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Rivian Automotive by 10.1% during the 1st quarter. Empowered Funds LLC now owns 54,560 shares of the electric vehicle automaker’s stock valued at $679,000 after acquiring an additional 4,998 shares in the last quarter. Focus Partners Wealth grew its position in Rivian Automotive by 29.0% during the 1st quarter. Focus Partners Wealth now owns 64,534 shares of the electric vehicle automaker’s stock worth $803,000 after acquiring an additional 14,497 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Rivian Automotive by 57.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,107 shares of the electric vehicle automaker’s stock worth $64,000 after acquiring an additional 1,856 shares during the last quarter. Institutional investors own 66.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group upped their target price on Rivian Automotive from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Tuesday, July 7th. DA Davidson lifted their price target on Rivian Automotive from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Morgan Stanley boosted their price target on Rivian Automotive from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, July 14th. Piper Sandler raised Rivian Automotive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $20.00 in a research note on Monday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $19.00 price objective on shares of Rivian Automotive in a report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.95.

Rivian Automotive Trading Down 2.2%

NASDAQ RIVN opened at $16.33 on Thursday. The firm has a market capitalization of $22.23 billion, a PE ratio of -5.59 and a beta of 1.60. The business’s 50-day moving average price is $16.51 and its two-hundred day moving average price is $15.91. The company has a current ratio of 2.10, a quick ratio of 1.64 and a debt-to-equity ratio of 1.00. Rivian Automotive, Inc. has a 12 month low of $11.57 and a 12 month high of $22.69.

Rivian Automotive (NASDAQ:RIVN) last issued its quarterly earnings data on Thursday, April 30th. The electric vehicle automaker reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.05. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Rivian Automotive had a negative return on equity of 75.65% and a negative net margin of 63.62%.The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company earned ($0.48) earnings per share. On average, analysts expect that Rivian Automotive, Inc. will post -3.06 EPS for the current year.

Insider Activity at Rivian Automotive

In other Rivian Automotive news, Director Karen Boone sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director owned 110,000 shares in the company, valued at approximately $2,200,000. This trade represents a 15.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert J. Scaringe sold 34,818 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $15.00, for a total transaction of $522,270.00. Following the completion of the transaction, the chief executive officer owned 922,286 shares in the company, valued at $13,834,290. This trade represents a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 68,385 shares of company stock worth $1,125,094 over the last ninety days. Insiders own 1.48% of the company’s stock.

Rivian Automotive News Roundup

Here are the key news stories impacting Rivian Automotive this week:

• Positive Sentiment: Uber investment and R2 purchase agreement: Uber has agreed to invest up to $1.2 billion in Rivian and potentially purchase as many as 50,000 R2 vehicles. The agreement could provide production visibility, funding and a pathway into autonomous ride-hailing, though the opportunity depends on successful R2 execution. Uber investment article
• Positive Sentiment: Piper Sandler upgrade: Piper Sandler raised Rivian to Overweight from Neutral and lifted its price target to $20 from $18, citing potential from the R2 launch and longer-term robotaxi applications. The bullish call offers support after the shares’ weak 2026 performance. Piper Sandler upgrade article
• Positive Sentiment: Production and delivery execution: Rivian has been beating expectations for production and deliveries, improving confidence that the company can support its upcoming R2 ramp. Rivian production article
• Neutral Sentiment: Earnings expectations are elevated: Analysts expect the second-quarter report to focus on R2 production timing, cash use and Rivian’s path toward profitability. The company’s results could produce a sizable move because investor expectations are already reflected in the stock. Rivian Q2 earnings expectations
• Neutral Sentiment: Analyst views remain mixed: Cantor Fitzgerald reaffirmed a Neutral rating while raising its price target to $19, indicating potential upside but continued caution about Rivian’s risk profile. Cantor Fitzgerald rating
• Negative Sentiment: Profitability and valuation remain concerns: Despite improving sales and production, Rivian continues to face substantial losses. Analysts caution that the stock is not clearly inexpensive relative to revenue and that a successful R2 ramp is essential to justify its valuation. Rivian valuation analysis
• Negative Sentiment: EV policy uncertainty: The expiration of federal EV tax credits adds pressure to consumer demand and industry economics, even as Georgia officials continue promoting EV manufacturing and customer choice. EV policy article

Rivian Automotive Profile

Rivian Automotive, Inc is an American automotive technology company specializing in the design, development and manufacture of electric vehicles. The company is best known for its all-electric R1 platform, which underpins the R1T pickup truck and R1S sport utility vehicle. In addition to consumer products, Rivian has secured a significant commercial contract to produce electric delivery vans for a leading e-commerce provider, underscoring its capability to serve both retail and fleet customers.

Founded in 2009 by engineer and entrepreneur Robert “RJ” Scaringe, Rivian has grown from a research-focused startup into a publicly traded corporation.