Recent reports from equity analysts on Rivian Automotive’s stock include:
- Canaccord Genuity lowered its price target from $30.00 to $28.00 but maintains a “buy” rating.
- UBS reduced its target from $17.00 to $16.00, giving it a “neutral” rating.
- Deutsche Bank reaffirmed a “hold” rating with a target of $14.00.
- Barclays cut its target from $16.00 to $13.00 with an “equal weight” rating.
- Guggenheim initiated coverage with a “buy” rating and an $18.00 target.
Currently, one analyst rates it a “sell,” eleven a “hold,” and eleven a “buy,” with an average target of $17.18 according to MarketBeat.com.
Get Our Latest Stock Analysis on Rivian Automotive
Insider Trading Updates
CEO Robert J. Scaringe sold 71,429 shares on July 22 at $17.02 each, totaling about $1.22 million. He still owns 909,691 shares valued at around $15.48 million. Additionally, he sold 83,333 shares on September 23 at $11.64, totaling approximately $970,000, leaving him with 886,526 shares worth about $10.32 million. Recent insider sales total 241,305 shares worth $3.37 million, with insiders owning 2.51% of the stock.
Institutional Investor Activity
Recently, several institutional investors adjusted their stakes in Rivian:
- Renaissance Capital LLC increased its stake by 20%, owning 887,551 shares now.
- Private Advisory Group LLC invested $2.1 million for a new stake.
- Royal London Asset Management grew its position by 19.6%, now holding 300,076 shares.
- AQR Capital Management increased its stake by 102.8%, owning 2,479,559 shares.
- SteelPeak Wealth acquired a new stake valued at $265,000.
Institutional investors own 66.25% of Rivian’s stock.
Recent Trading Performance
Rivian shares are down 0.8%, with a market cap of $10.12 billion and a P/E ratio of -1.70. Recent earnings showed an EPS of -$1.39, missing estimates. Analysts predict a -$4.88 EPS for the current year.
About Rivian Automotive
Rivian Automotive, Inc. designs and manufactures electric vehicles, including the R1T pickup and R1S SUV.
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