Arkadios Wealth Advisors Invests $260,000 in Rivian Automotive, Inc. (NASDAQ:RIVN)

Arkadios Wealth Advisors acquired a new position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) during the third quarter, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,890 shares of the electric vehicle automaker’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bartlett & Co. LLC raised its holdings in shares of Rivian Automotive by 104.2% in the 2nd quarter. Bartlett & Co. LLC now owns 980 shares of the electric vehicle automaker’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Concord Wealth Partners acquired a new stake in shares of Rivian Automotive in the 2nd quarter worth about $25,000. Venture Visionary Partners LLC acquired a new stake in shares of Rivian Automotive in the 2nd quarter worth about $27,000. Seeyond acquired a new stake in shares of Rivian Automotive in the 2nd quarter worth about $27,000. Finally, Exane Derivatives acquired a new stake in shares of Rivian Automotive in the 2nd quarter worth about $28,000. Institutional investors own 67.97% of the company’s stock.

Rivian Automotive Stock Down 1.6 %

RIVN opened at 18.43 on Friday. The company has a 50 day moving average of 28.29 and a 200 day moving average of 31.26. Rivian Automotive, Inc. has a 12 month low of 17.45 and a 12 month high of 106.80. The company has a quick ratio of 6.39, a current ratio of 6.84 and a debt-to-equity ratio of 0.08.

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Rivian Automotive (NASDAQ:RIVN – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The electric vehicle automaker reported -1.57 EPS for the quarter, topping the consensus estimate of -1.78 by 0.21. The company had revenue of 536.00 million during the quarter, compared to the consensus estimate of 513.89 million. Rivian Automotive had a negative net margin of 714.01% and a negative return on equity of 32.42%. Equities analysts expect that Rivian Automotive, Inc. will post -7.46 EPS for the current fiscal year.

Insider Buying and Selling at Rivian Automotive

In other Rivian Automotive news, CFO Claire Mcdonough sold 14,235 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total value of 497,086.20. Following the completion of the transaction, the chief financial officer now directly owns 81,151 shares of the company’s stock, valued at approximately 2,833,792.92. The sale was disclosed in a legal filing with the SEC, which can be accessed via the SEC website. In other Rivian Automotive news, CFO Claire Mcdonough sold 14,235 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.92, for a total value of 497,086.20. Following the completion of the transaction, the chief financial officer now directly owns 81,151 shares of the company’s stock, valued at approximately 2,833,792.92. The sale was disclosed in a legal filing with the SEC, which can be accessed via the SEC website. Also, CAO Jeff Baker sold 1,689 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of 34.38, for a total transaction of 58,067.82. Following the completion of the transaction, the chief accounting officer now directly owns 89,331 shares of the company’s stock, valued at 3,071,199.78. The disclosure for this sale can be found here. Insiders own 2.34% of the company’s stock.

Wall Street Analyst Weigh In

RIVN has been the subject of several analyst reports. Wedbush decreased their price objective on shares of Rivian Automotive from $45.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, November 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Rivian Automotive from $44.00 to $43.00 in a research note on Thursday, November 10th. DA Davidson decreased their price objective on shares of Rivian Automotive from $27.00 to $23.00 and set an “underperform” rating for the company in a research note on Thursday, November 10th. Truist Financial initiated coverage on shares of Rivian Automotive in a research note on Wednesday, September 28th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Canaccord Genuity Group decreased their price objective on shares of Rivian Automotive from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, November 10th. Two equity research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of 45.14.

Rivian Automotive Company Profile

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Rivian Automotive, Inc designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides a Rivian Commercial Vehicle platform for electric Delivery Vans with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets.

See Also

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Institutional Ownership by Quarter for Rivian Automotive (NASDAQ:RIVN)

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