World Investment Advisors LLC Buys 1,446 Shares of Rivian Automotive, Inc. (NASDAQ:RIVN)

World Investment Advisors LLC grew its stake in Rivian Automotive, Inc. (NASDAQ:RIVN) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,165 shares of the electric vehicle automaker’s stock after purchasing an additional 1,446 shares during the period. World Investment Advisors LLC’s holdings in Rivian Automotive were worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RIVN. Assenagon Asset Management S.A. raised its position in Rivian Automotive by 1.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 36,684 shares of the electric vehicle automaker’s stock worth $492,000 after purchasing an additional 604 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Rivian Automotive by 30.7% during the second 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 during the last quarter. Certuity LLC raised its holdings in shares of Rivian Automotive by 8.1% in the second quarter. Certuity LLC now owns 10,831 shares of the electric vehicle automaker’s stock worth $145,000 after buying an additional 815 shares during the period. Blue Trust Inc. lifted its stake in shares of Rivian Automotive by 39.0% during the 2nd quarter. Blue Trust Inc. now owns 3,230 shares of the electric vehicle automaker’s stock worth $43,000 after acquiring an additional 907 shares during the last quarter. Finally, John G Ullman & Associates Inc. boosted its holdings in Rivian Automotive by 9.1% during the 3rd quarter. John G Ullman & Associates Inc. now owns 12,000 shares of the electric vehicle automaker’s stock valued at $135,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 66.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RIVN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $14.00 target price on shares of Rivian Automotive in a research note on Tuesday, September 10th. The Goldman Sachs Group raised their price target on shares of Rivian Automotive from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on shares of Rivian Automotive from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Guggenheim reduced their target price on shares of Rivian Automotive from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price target on shares of Rivian Automotive from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.74.

Rivian Automotive Stock Performance

Shares of NASDAQ:RIVN opened at $13.06 on Friday. The business’s 50-day moving average is $11.37 and its 200 day moving average is $12.74. The company has a debt-to-equity ratio of 0.93, a current ratio of 5.09 and a quick ratio of 3.70. Rivian Automotive, Inc. has a 1 year low of $8.26 and a 1 year high of $24.61. The firm has a market capitalization of $13.33 billion, a P/E ratio of -2.33 and a beta of 2.12.

Insiders Place Their Bets

In related news, CFO Claire Mcdonough sold 3,210 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $32,196.30. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Scaringe sold 83,334 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $11.25, for a total transaction of $937,507.50. Following the sale, the chief executive officer now directly owns 863,361 shares in the company, valued at approximately $9,712,811.25. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,904 shares of company stock valued at $3,291,004. 2.51% of the stock is currently owned by corporate insiders.

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.