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On March 3, 2023 at 10:03:13 ET an unusually large
$332.38K block of Call contracts in Rivian Automotive Inc –
(RIVN) was bought,
with a strike price of $27.50 / share, expiring in 322 days (on January 19, 2024).
Fintel tracks all large options trades, and the premium spent on this trade was 1.61 sigmas above the mean, placing it in the 95.54 percentile of all recent large trades made in RIVN options.
This trade was first picked up on Fintel’s real time Options Flow
tool, where all large
block option trades are tracked.
Analyst Price Forecast Suggests 151.61% Upside
As of March 3, 2023,
the average one-year price target for Rivian Automotive Inc – is $39.55.
The forecasts range from a low of $19.19 to a high of $66.15.
The average price target represents an increase of 151.61% from its latest reported closing price of $15.72.
The projected annual revenue for Rivian Automotive Inc –
is $5,692MM, an increase of 243.31%.
The projected annual EPS
is -$5.82.
What is the Fund Sentiment?
There are 1022 funds or institutions reporting positions in Rivian Automotive Inc -.
This is an increase
of
45
owner(s) or 4.61% in the last quarter.
Average portfolio weight of all funds dedicated to RIVN is 0.27%,
a decrease
of 25.32%.
Total shares owned by institutions decreased
in the last three months by 4.39% to 667,198K shares.
The put/call ratio of RIVN is 0.52, indicating a
bullish
outlook.
What are large shareholders doing?
Amazon Com
holds 158,364K shares
representing 17.20% ownership of the company.
No change in the last quarter.
Price T Rowe Associates
holds 116,605K shares
representing 12.66% ownership of the company.
In it’s prior filing, the firm reported owning 140,632K shares, representing
a decrease
of 20.61%.
The firm
decreased
its portfolio allocation in RIVN by 54.41% over the last quarter.
PRGFX – T. Rowe Price Growth Stock Fund
holds 39,711K shares
representing 4.31% ownership of the company.
In it’s prior filing, the firm reported owning 46,319K shares, representing
a decrease
of 16.64%.
The firm
decreased
its portfolio allocation in RIVN by 49.42% over the last quarter.
Capital Research Global Investors
holds 35,598K shares
representing 3.87% ownership of the company.
In it’s prior filing, the firm reported owning 43,376K shares, representing
a decrease
of 21.85%.
The firm
decreased
its portfolio allocation in RIVN by 57.72% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 19,421K shares
representing 2.11% ownership of the company.
In it’s prior filing, the firm reported owning 18,960K shares, representing
an increase
of 2.37%.
The firm
decreased
its portfolio allocation in RIVN by 47.03% over the last quarter.
Rivian Automotive Background Information
(This description is provided by the company.)
Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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