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5 Investors Betting Big on Rivian (RIVN) Stock


  • Amazon (AMZN) is the largest shareholder of Rivian (RIVN) with ownership of 158.36 million shares.
  • During the first quarter, a total of 553 13F filers disclosed a stake in Rivian, a decline of 33 filers from the prior quarter.
  • RIVN stock is down more than 20% year-to-date (YTD).
Rivian (RIVN) car manufacturing plant. Rivian develops vehicles, products and services related to sustainable transportation.
Source: James Yarbrough / Shutterstock.com

The 13F deadline of May 15 for institutional investors to file their quarterly positions as of the first quarter has passed, which means that retail investors are now able to see the top shareholders of Rivian (NASDAQ:RIVN) as of March 31. The emerging electric vehicle (EV) company reported earnings earlier this month and reaffirmed its 2023 production guidance for 50,000 vehicles. During the first three months of the year, Rivian produced 9,395 vehicles and delivered 7,946 of them. Total revenue for the period tallied in at $661 million. Meanwhile, gross profit was as loss of $535 million. Q1 revenue came in above the analyst estimate for $652.1 million.

In a statement to Teslarati, the company also said that delivery times for the R1T EV in available configurations are lower now than ever. “Rivian’s production ramp continues to climb, and that means customers can take delivery of an R1T faster than ever. Starting today (May 13), customers can reserve an R1T and take delivery in 14 days or less—in some cases,” said Rivian.

Still, in a high interest rate environment, profitability is extremely important. During Q1, Rivian posted an adjusted EPS loss of $1.25, which still beat the analyst estimate for a loss of $1.59. According to Koyfin, analysts have forecast negative GAAP and non-GAAP EPS for Rivian all the way until Q4 2024, which is the furthest estimate available.

5 Investors Betting Big on RIVN Stock

Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During Q1, 553 13F filers disclosed a stake in RIVN stock, a decline of 33 filers compared to Q4 2022. In total, these 13F filers own 571.19 million shares of the company, down from 605.07 million shares.

Meanwhile, the institutional put/call ratio sits at 0.84, up from 0.74. That’s equivalent to 34.32 million puts and 40.72 million calls, implying a somewhat bullish options stance. With that in mind, let’s take a look at Rivian’s top five shareholders:

  1. Amazon (NASDAQ:AMZN): 158.36 million shares. Amazon’s stake remained unchanged during Q1.
  2. Global Oryx Group: 113.93 million shares. Global Oryx’s stake is only accurate as of Q4 2021.
  3. T. Rowe Price (NASDAQ:TROW): 76.77 million shares. T. Rowe sold 39.82 million shares during Q1.
  4. Vanguard Group: 61.42 million shares. Vanguard acquired 24.39 million shares during Q1.
  5. BlackRock (NYSE:BLK): 50.90 million shares. BlackRock acquired 1.44 million shares during Q1.

On the date of publication, Eddie Pan held a long position in AMZN. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.

Article printed from InvestorPlace Media, https://investorplace.com/2023/05/5-investors-betting-big-on-rivian-rivn-stock-2/.

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