The electric vehicle (EV) producer, Rivian (NASDAQ:RIVN), has seen a roughly 50% drop in its stock since the start of the year due to the challenges of competitive pricing, the rising preference for hybrids over fully electric vehicles, and the impact of increased interest rates. As the first-quarter 13F deadline has come and gone, retail investors now have the opportunity to assess institutional investors’ perspectives on these matters.
The company left investors underwhelmed when it predicted a production of 57,000 vehicles in 2024, a minor decrease from the 57,232 vehicles produced in 2023. However, the company’s revenue was a silver lining, leaping by 82% year-over-year (YOY) to $1.204 billion, exceeding the analysts’ expectation of $1.17 billion in sales.
Rivian continues to develop new products, although patience is required from shareholders and customers alike. Scheduled to start deliveries in the first half of 2026, the R2 SUV will be the company’s most affordable EV to date, with an opening price of $45,000. The R2 is currently open for reservations, starting at $100 in the U.S and $150 in Canada.
It’s important to monitor institutional ownership, as these heavyweight investors offer liquidity and backbone for stocks. However, Rivian’s aggregate 13F data doesn’t paint a particularly inspiring picture.
In Q1, a total of 647 entities declared a holding in RIVN stock, indicating a decrease of 37 filers compared to the preceding quarter. These filers possessed a sum of 603.85 million shares, representing a quarter-over-quarter drop of 6.6%.
In a similar vein, hedge funds, which form a segment of institutional investors, projected a bearish stance. A total of 111 hedge funds revealed a stake in RIVN, reflecting a decrease by nine filers. Overall hedge fund ownership reduced by 24.11% to 74.09 million shares.
These figures, however, can be skewed by large sellers. Notably, T. Rowe Price (NASDAQ:TROW) was the most significant seller during Q1, offloading 13.56 million shares to retain 46.06 million. Meanwhile, Two Sigma liquidated its entire position of 11.88 million shares.
With these insights in mind, we now turn our focus to Rivian’s top 13F shareholders:
Please note that at the time of writing, Eddie Pan had a LONG position in AMZN. The views expressed in this article belong to the author and are subject to the editorial guidelines of Investing Pioneers.
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