Qsemble Capital Management LP Makes New $314,000 Investment in Rivian Automotive, Inc. (NASDAQ:RIVN)

Qsemble Capital Management LP bought a new position in Rivian Automotive, Inc. (NASDAQ:RIVN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,945 shares of the electric vehicle automaker’s stock, valued at approximately $314,000.

A number of other large investors have also recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in shares of Rivian Automotive by 52.5% in the third quarter. Baillie Gifford & Co. now owns 50,357,579 shares of the electric vehicle automaker’s stock valued at $565,012,000 after purchasing an additional 17,341,786 shares during the period. Renaissance Technologies LLC increased its stake in shares of Rivian Automotive by 153.2% in the second quarter. Renaissance Technologies LLC now owns 5,430,500 shares of the electric vehicle automaker’s stock valued at $72,877,000 after purchasing an additional 3,285,867 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Rivian Automotive by 79.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,607,220 shares of the electric vehicle automaker’s stock valued at $51,693,000 after purchasing an additional 2,035,831 shares during the period. abrdn plc increased its stake in shares of Rivian Automotive by 17.8% in the third quarter. abrdn plc now owns 3,439,143 shares of the electric vehicle automaker’s stock valued at $38,587,000 after purchasing an additional 518,561 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Rivian Automotive by 53.8% in the second quarter. Bank of New York Mellon Corp now owns 2,972,339 shares of the electric vehicle automaker’s stock valued at $39,889,000 after purchasing an additional 1,039,758 shares during the period. Institutional investors own 66.25% of the company’s stock.

Wall Street Analysts Forecast Growth

RIVN has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Rivian Automotive from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Needham & Company LLC dropped their price target on shares of Rivian Automotive from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Mizuho lowered their price objective 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. Truist Financial lowered their price objective on shares of Rivian Automotive from $16.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Finally, Bank of America lowered shares of Rivian Automotive from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $13.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Rivian Automotive has an average rating of “Hold” and an average target price of $15.73.

Insider Buying and Selling

In related news, CEO Robert J. Scaringe sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.68, for a total value of $1,139,995.44. Following the completion of the transaction, the chief executive officer now owns 886,526 shares of the company’s stock, valued at approximately $12,127,675.68. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of Rivian Automotive stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total transaction of $32,196.30. Following the sale, the chief financial officer now directly owns 378,498 shares of the company’s stock, valued at $3,796,334.94. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,210 shares of company stock valued at $3,079,695. Company insiders own 2.51% of the company’s stock.

Rivian Automotive Trading Up 5.8 %

Rivian Automotive stock opened at $12.22 on Thursday. The company has a 50 day moving average price of $10.69 and a 200 day moving average price of $12.45. Rivian Automotive, Inc. has a 52 week low of $8.26 and a 52 week high of $24.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.70 and a current ratio of 5.09. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of -2.18 and a beta of 2.04.

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.