Investing

Unusual Put Option Trade in Rivian Automotive Worth $325.89K

Fintel Staff

Published: February 16, 2023 3:28 am

Last Updated: February 16, 2023 10:29 am

On February 15, 2023 at 12:10:08 (ET) an unusually large $325.89K block of Put contracts in Rivian Automotive Inc – (RIVN) was bought, with a strike price of $20.00 / share, expiring in 121 days (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.83 sigmas above the mean, placing it in the 96.85 percentile of all recent large trades made in RIVN options.

Analyst Price Forecast Suggests 102.94% Upside

As of February 14, 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 102.94% from its latest reported closing price of $19.49.

The projected annual revenue for Rivian Automotive Inc – is $5,692MM, an increase of 442.61%. The projected annual EPS is -$5.82.

What is the Fund Sentiment?

There are 999 funds or institutions reporting positions in Rivian Automotive Inc -. This is an increase of 9 owner(s) or 0.91% in the last quarter. Average portfolio weight of all funds dedicated to RIVN is 0.31%, a decrease of 11.04%. Total shares owned by institutions decreased in the last three months by 3.10% to 670,230K shares. The put/call ratio of RIVN is 0.54, 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 79.82% over the last quarter.

PRGFX – T. Rowe Price Growth Stock Fund holds 46,319K shares representing 5.03% ownership of the company. In it’s prior filing, the firm reported owning 46,509K shares, representing a decrease of 0.41%. The firm increased its portfolio allocation in RIVN by 34.38% 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 18,960K shares representing 2.06% ownership of the company. In it’s prior filing, the firm reported owning 15,778K shares, representing an increase of 16.78%. The firm increased its portfolio allocation in RIVN by 60.16% 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 article originally appeared on Fintel