On May 23, 2023 at 15:31:19 ET an unusually large $343.50K block of Put contracts in Rivian Automotive Inc – (RIVN) was bought, with a strike price of $12.50 / share, expiring in 241 day(s) (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.21 sigmas above the mean, placing it in the 99.92th 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 unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1044 funds or institutions reporting positions in Rivian Automotive Inc -. This is an increase of 37 owner(s) or 3.67% in the last quarter. Average portfolio weight of all funds dedicated to RIVN is 0.24%, a decrease of 22.99%. Total shares owned by institutions decreased in the last three months by 5.41% to 634,375K shares. The put/call ratio of RIVN is 0.69, indicating a bullish outlook.

Analyst Price Forecast Suggests 70.60% Upside

As of May 11, 2023, the average one-year price target for Rivian Automotive Inc – is 24.28. The forecasts range from a low of 11.11 to a high of $42.00. The average price target represents an increase of 70.60% from its latest reported closing price of 14.23.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Rivian Automotive Inc – is 5,692MM, an increase of 155.94%. The projected annual non-GAAP EPS is -5.82.

What are Other Shareholders Doing?

Amazon Com holds 158,364K shares representing 16.86% ownership of the company. No change in the last quarter.

Price T Rowe Associates holds 76,776K shares representing 8.17% ownership of the company. In it’s prior filing, the firm reported owning 116,605K shares, representing a decrease of 51.88%. The firm decreased its portfolio allocation in RIVN by 48.53% over the last quarter.

PRGFX – T. Rowe Price Growth Stock Fund holds 39,711K shares representing 4.23% 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 23,715K shares representing 2.52% ownership of the company. In it’s prior filing, the firm reported owning 35,598K shares, representing a decrease of 50.11%. The firm decreased its portfolio allocation in RIVN by 47.16% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 19,421K shares representing 2.07% 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.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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