Mizuho Markets Americas LLC Has $5.60 Million Holdings in Rivian Automotive, Inc. (NASDAQ:RIVN)

Mizuho Markets Americas LLC raised its holdings in Rivian Automotive, Inc. (NASDAQ:RIVN) by 44.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 511,713 shares of the electric vehicle automaker’s stock after acquiring an additional 156,245 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Rivian Automotive were worth $5,603,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC acquired a new position in shares of Rivian Automotive during the first quarter worth approximately $265,000. Trust Point Inc. acquired a new position in shares of Rivian Automotive during the fourth quarter worth approximately $246,000. Sapient Capital LLC acquired a new position in shares of Rivian Automotive during the fourth quarter worth approximately $330,000. Gradient Investments LLC raised its position in shares of Rivian Automotive by 72.4% during the fourth quarter. Gradient Investments LLC now owns 2,463 shares of the electric vehicle automaker’s stock worth $58,000 after purchasing an additional 1,034 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Rivian Automotive by 36.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 374,593 shares of the electric vehicle automaker’s stock worth $8,752,000 after purchasing an additional 101,039 shares during the period. 66.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, CEO Robert J. Scaringe sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the transaction, the chief executive officer now owns 909,691 shares in the company, valued at approximately $16,374,438. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Rivian Automotive news, CEO Robert J. Scaringe sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $18.00, for a total value of $3,600,000.00. Following the completion of the transaction, the chief executive officer now owns 909,691 shares in the company, valued at approximately $16,374,438. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert J. Scaringe sold 71,429 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $11.25, for a total value of $803,576.25. Following the completion of the transaction, the chief executive officer now owns 909,691 shares of the company’s stock, valued at approximately $10,234,023.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 414,287 shares of company stock worth $6,293,588. 2.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RIVN. Truist Financial upped their target price on Rivian Automotive from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group increased their price target on Rivian Automotive from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, July 1st. Canaccord Genuity Group increased their price target on Rivian Automotive from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Mizuho increased their price target on Rivian Automotive from $11.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, UBS Group increased their price target on Rivian Automotive from $10.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.79.

Rivian Automotive Stock Down 0.9 %

Shares of RIVN stock traded down $0.15 on Friday, hitting $16.75. 25,909,034 shares of the stock were exchanged, compared to its average volume of 68,241,944. The company has a quick ratio of 3.55, a current ratio of 4.71 and a debt-to-equity ratio of 0.55. Rivian Automotive, Inc. has a one year low of $8.26 and a one year high of $28.06. The firm’s 50 day moving average is $12.66 and its two-hundred day moving average is $12.76.

Rivian Automotive (NASDAQ:RIVN) last posted its quarterly earnings results on Tuesday, May 7th. The electric vehicle automaker reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.38) by ($0.03). The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rivian Automotive had a negative return on equity of 53.55% and a negative net margin of 111.09%. On average, equities analysts expect that Rivian Automotive, Inc. will post -4.95 earnings per share for the current year.

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.