Mitsubishi UFJ Kokusai Asset Management Co. Ltd. revealed on March 31st that it grew its Rivian Automotive, Inc. holdings by 9.3% in the fourth quarter of 2018. Electric car and mobility innovation firms are becoming more popular.
Rivian Automotive, Inc., funded by Amazon.com, sells five-passenger trucks and sports utility vehicles to consumers.
Mitsubishi UFJ’s last SEC filing shows ownership of approximately 228,000 shares worth $3,955,000.
RIVN shares opened on Friday at $12.95, a favorable entry point for potential investors to invest in Rivian after evaluating their investment portfolios and the implications of this company’s products viability as a sustainable business moving forward. Given its short history, investors should also conduct proper due diligence.
Despite the recent economic existential crisis, the electric vehicle sector industry continues to show resilience, with newer entrants like Rivian literally bucking the trend amid rating upgrades and improved outlooks based on sales growth trajectory and strong investor support.
As businesses around the world look to contribute to sustainability measures that foster responsible environmental practices, unmistakable signals point toward paradigm shifts that acknowledge electric mobility will become increasingly important, prompting Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s bullish entrée to demonstrate its commitment to clean energy evolution and innovation, given the ambitious goals and targets.
Rivian Automotive Leads Electric Vehicle Innovation
Rivian Automotive, Inc. is revolutionizing electric car design and technology. Large investors have changed their stock holdings in the firm. Quadrant Capital Group LLC added 97.8%, Eaton Vance Management 6.8%, Gould Capital LLC 175.4%, D.A. Davidson & CO. 9.1%, and Ieq Capital LLC 4.1%. Institutional investors hold 67.97% of Rivian Automotive.
Analysts have set price expectations from $16 to $40 per share for the new manufacturer. Rivian Automotive has fans and analysts despite being a newcomer.
Rivian Automotive sells five-passenger pickup trucks, sports utility vehicles, and electric delivery vans built with Amazon.com.
Rivian Automotive is a “Hold” with an average target price of $29.30 per share, according to Bloomberg, and its previous earnings release surpassed consensus projections.
CFO Claire Mcdonough and CAO Jeff Baker sold shares in February, while insider ownership remains at 2.34%.
Rivian Automotive is poised to develop as it innovates the electric car market with cutting-edge technology and appealing designs for individuals and businesses.